Wednesday, 1 May 2013

2pm update - strap in

Here we go again, its time for another FOMC press release. Things might get a little wild in the remaining two hours. Daily index charts are rolling lower, with the VIX daily pushing back upward. How we close today....will be critical. Metals and Oil remain under severe pressure.




Suffice to say...lets just see how this turns out.
- hyper-ramp for the bulls..yet.

Weakness into the close...with VIX 15s?
 -- the Fed basically said 'prepared to increase or decrease purchases'.

Those bull maniacs seeking higher monthly purchases going to have to wait until at least June'19.

Market trying to battle back into those 1590s..hmm.

2.30pm..despite the little post FOMC bounce...Trans/R2K are significantly lower, along with metals and Oil.

I have to think the main indexes will follow, and if the Fridays jobs data is lousy...a weekly close under the key viable.

VIX is struggling to hold 14s...but..still 90mins left of the day.