2pm update - lets see where Mr Market wants to go

Fed press release due at 2pm...could be a very choppy hour ahead, with the closing hour being important for both sides.

If those nasty HFT algo-bots can start some sort of short-stop reverse cascade UP, then...we may indeed get one final up move to around 1375/90

Regardless of any minor move higher in the next few days, it doesn't change the bigger picture outlook.


sp'60min

VIX, 60min

Summary

The underlying MACD cycle on the hourly charts is very likely floored. I suppose we could get one further down wave, but it'd be real surprising considering the fear-less mood out there today.

VIX is moderately red, sure it could close green, but I'm guessing..no.
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I'm sitting this out until at least tomorrow.