11am update - a weak market

Considering the FOMC, and yesterdays initial decline, this market sure looks weak. Bulls are struggling just to hold things at sp'1415. A late day decline to around 1405 is very viable, with VIX in the mid 17s, which opens up a break <1400 early next week.


sp'daily5

vix'daily

Summary

Its looking rather good. We're seeing consistant attempts by the bulls to get a ramp going, but so far..its just relentless fail.

Bears should look for a close around 1415, but..it is possible we'll see some 'selling into the weekend', a close @ sp'1405, even 1400 would be a major bonus.
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time to cook !
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Just noticed the tranny, which is making a fast attempt to break a new high. Hmm

Not sure what to make of it, it could just be the usual bizarre-ness that is the transports.

UPDATE 11.25am.. AAPL on the edge

If breaks 504, then 480/75, within a few hours