12pm update - time for a game

US equities remain in minor churn mode, ahead of the FOMC at 2pm. The decision - QE'taper'5 is the mainstream expectation, and market will indeed be more interested in what Yellen has to say at the press conf'.


sp'60min

Summary

Ohh, and I realise, many are still calling it a bear flag on the hourly..or even daily chart. Sure..it could be.

Even then, whats the best case downside, 1910/00...and then. up up up.. into mid July. Either way, bears have little to look forward to for at least another month.
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VIX update from Mr P.


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In far more important matters...

Its time for Australia vs Netherlands... that will keep some busy until the press release at 2pm.