The FED backing off is inevitable and equity prices will, on a short term basis, likely be volatile and chaotic as institutions continue to read their tea leaves ... but actually that will mean true fundamentals are improving. There's a good op-ed in the WSJ this morning on that very topic. How the FED needs to get out of the way to restore true 'value' and 'price' metrics to the market. Right now it's being heavily distorted.
Anyway - cheers Fabric - glad to hear your elephant has gotten up for a while :-)