"On September 18 after a 0.5% cut in the fed funds target, the S&P surged 43 points. On October 31 after a 0.25% cut in the fed funds target, the S&P gained 18 points. The market has rallied more in advance of the announcement this time compared to the two previous occasions, however, so a subsequent rally of similar proportions is a long shot. There is even a chance that some "sell the news" reaction occurs following the announcement. " From Briefing.
Be careful!