US equities remain moderately choppy... trying to hold a floor of sp'2069, with VIX peaking at 15.62. Price structure is offering a slow upward battle to the sp'2085/90 zone.. along with VIX 14.50... and that might well take us into the FOMC annoucement tomorrow afternoon.
We've seen this kind of nonsense many times before. Bears get teased in the morning... but there just isn't any downside power right now.. and we're set to battle upward into the mid afternoon.
I think it remains a case of 'lets see where we are in the 2pm hour'.
*I continue to seek a new VIX long from the mid 14s... for now.. there seems no hurry.
I would refer anyone to the following.. and suggest they stare at it for a good 20 minutes.
time for a slightly early lunch
11.17am.. VIX 14.50.. with sp'2080....
A few more hours.... 14.00 with 2085/90... seems a given.
yours... Mr Patient (at least for this morning)