US equities remain moderately weak, and we already have an early floor for today of sp'2005, with VIX only managing to hit 17.85. The rest of today offers a great deal of chop, with high threat of a post FOMC spike to the gap zone of sp'2038/43... before another key lower high is put in.
*I didn't notice the opening black-fail candle in the VIX. It doesn't bode well for the equity bears.. this side of the FOMC.
Well, there really isn't much to add.
Pre-FOMC chop.. a little weakness, but it still appears we'll push somewhat higher tomorrow afternoon.. if briefly.
Meanwhile.. in bio-tech land....
VRX, daily (linear chart)
Another dire day for the much beloved Valient. A lot of big money has been vapourised in this one!