US equities remain in moderate chop mode, as the Yellen is set to appear. There is clearly threat of a moderate bounce into the 2045/55 zone. However, any such bounce will likely fail. Metals are increasingly mixed, Gold +$7, whilst Silver -0.2%. Oil remains -3.2% in the low $38s.
Well, the most dangerous woman in the financial world is imminently due.
Current price action bodes for sp'2040s... with VIX 14s.
I'll consider things in the 2pm hour, that would be a reasonable time.. at least to me.
notable weakness, SDRL, daily
Ugly price action since summer 2014... and SDRL remains on the disappear list.
time for lunch
12.22pm.. the press release is out..
12.24pm.. Catching a bid.. Gold +$16... as USD cools, -0.5%
Yellen appears... so this could now drag into the 2pm hour.
12.27pm.. First use of 'transitory'... with sp'2041.. VIX 14s.
12.31pm.. In theory, the smaller 15/60min cycles will likely max out by 1.30/2.00pm....
I like the micro gap zone around 2049/50.
12.40pm... chop chop... sp'2044...
notable weakness, BAC -2.2%.. as threat of rate rises remains low.