The FOMC announcement is imminent, and it seems a given that interest rates won't be raised.. yet again. The excuse this time could be 'soft jobs data', but whatever is in the press release.... there will be no opportunity for the press lackeys to question (if softly) the Yellen.
So yes, I'm not expecting any change in rates.
Seeking a brief equity spike higher... the smaller 15/60min cycles are offering 2085/90... the daily offers 2095/2100.
Broadly.. a reversal into the close looks a real threat.
.. updates across this hour.. and into the close..............
2.01pm.. no rate increase..
VIX getting utterly nuked... for capitulation floor... -17% in the 12.80s.
Possible cycle high of sp'2084... with VIX 12.80
Cyclically.. we're due a key turn from here
2.04pm.. GOLD reversal.. about to turn negative... as USD +0.3%
2.07pm.. It would seem we have a cycle top of sp'2084. A marginally red close would give extra clarity.
VIX.. back to -1%.. in the 15.20s..... a clear SPIKE-floor @ 12.80. First target is the 18/20 zone.
... and that IS a clear turn.
2.16pm.. Clear turns in equities AND the VIX.
Primary target is the sp'2020/00 zone.. with 2002 being a basic 38% fib' retrace.
So.. we're sp -1pt @ 2064.. 62pts to go... minimum.
2.27pm.. a micro bounce.... but broadly.. we have a clear spike high of sp'2084.
*notable strength, financials... on higher rate hikes. BAC +4.3%