2pm update - is it time for another FOMC yet?

The market sure is weak today, even weaker than your resident permabear was seeking. Is the market suffering from a case of 'post FOMC depression'? Regardless, the ascending channels on the daily index charts are being busted, now its just a matter of seeing how far we decline into next week.


sp'daily5

Nasdaq Comp

Summary

Things are looking pretty good. The sp'1438 high is now a fair ways away, creating a nice buffer zone for those who are re-shorting at the current levels.
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Death Cross for the Nasdaq'100

Poster HiRev' highlighted we have a death cross in the nas'100. I tend to follow the Nasdaq Composite, but that should similarly see a cross either tomorrow (on the first snap lower) or early next week.

We should see death crosses for the Dow, and shortly after the SP'500, no later than mid-January - assuming we are trading at least in the low 1300s.
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People are starting to pick up some very speculative VIX option positions...



more later

UPDATE 2.20pm We're in the process of taking out no less than THREE MAs all at once!

The 10 just failed..the big 50 day is next, and then the 100 @ sp'1414.

A close @ 1412/10 seems very viable now.  :)