With Oil seeing another strong wave higher in the 12pm hour, currently +3.8% to the $37s, the equity market have jumped from the cooling low of sp'2039 to 2053. VIX is naturally weak, -7% in the low 21s. The daily cycles are all swinging back toward the equity bulls.. ahead of the FOMC.
So.. Oil helps halt the cooling, and we're back in the 2050s.
The more 'hyper' scenario would be 2080/85 tomorrow.. then a brief flash down.
It remains highly important to note that underlying price momentum on the bigger daily/weekly charts is swinging back toward the bulls... ahead of the FOMC.
DIS +3.4%, a daily close in the $113s look due... with 117s by the Friday close
weakness: TWTR -3.9%.. the momo chasers sure aren't interested in that one.