10am update - opening chop

Marginal gains..marginal losses..its all noise. By the end of today, we'll have a much clearer picture on where we are headed in July and the rest of summer 2012.


sp'15min

sp'60min

Summary

First soft support is the hourly 10MA of 1355.

Seeking to short on any brief spike after the FOMC decision at 12.30pm.

In terms of sp, I think there is a fair chance of a micro double top of 1363. That would make taking a short after 12.30..very easy.

Good wishes to all those brave traders willing to trade this nasty market...on a Fed day,

More across the day...!