10am update - morning chop

Minor opening gains for the market, but it appears the bulls are going to struggle to break the key high of 1648 before tomorrows Fed announcement. Metals remain weak, with Gold -$9. Daily index charts continue to warn of significant upside into July


sp'daily5

Summary

I'm tired, I don't think I'll take any new trades until Thursday. Its been a great 8 weeks since the April low, and I don't want to mess up due to the market reacting the 'wrong way' to the Fed.

Way too much risk of whipsaw tomorrow afternoon.
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Those equity bears still seeking a break <1608.....eyes on the VIX, which remains somewhat resilient.


10.35am.. well, the 1650s look due within an hour.

Bears...poweruless. Yesterday afternoons down candle looks an embaressing anomaly..