US equities have seen some rather wild micro swings.. but with the Yellen now answering questions to such 'economic gods' as Liesman, the market is now seeing some rather powerful upside. Primary target is the 50dma around sp'2040.. along with VIX 16/15.s
For those on the sidelines... for those who are seeking a renewed powerful down wave into October - as I am, frankly.. this price action.. AND the fed decision is perfect.
I will look to launch a major market short... not today.. possibly tomorrow... but no later than next Mon-Wed.
updates into the close....
Gold +$12... Oil, a touch lower. Indeed, Oil is FAILING to be part of the party. I will likely leave alone.. and merely focus on waiting to launch a market short.
Notable strength: NFLX +2.7% in the $107s.... the 110s look due.. which would equate to sp'2035/45.
3.06pm... a little chop.. but still. . sp +15pts @ 2010... this is no market to be short... yet.
VIX jumped back to the 19s.. from earlier 17s... but broadly.. if sp'2040.. VIX will be 16/15s.
notable weakness (for the last few days)... AAPL -0.4% in the $115s
3.15pm.. a little cooling, sp +10pts.. @ 2005.. with VIX 19s.... but overall.. this is nothing for the bears to be getting excited about.
There will high threat of overnight strength in Asia.. and Fri' morning in EU markets.... we could easily reach 2030/40 tomorrow.
I am in no hurry right now..... and with price action as it is.... I will leave Oil alone, currently -0.5%
3.25pm... Indexes back to red..... as the wild Fed day swings continue.
Broadly though.. sp'2020 does not make sense a multi-week high.... I'd expect at least a re-test to 2010/15.. whether tomorrow.. or early next week.
yours.... still no hurry.
3.32pm.. Are we getting dizzy yet?
Net daily gains look probable....
We look headed UP into the close
3.39pm... notable weakness: AAPL -1.3% in the $114s.... a return to the low 90s looks viable... but more on that one later.