The indexes look poised for another attempt to battle back upward. Primary target zone remains unchanged, at sp'1680/85, which is still viable before this week concludes. VIX is +6% in the 15.80s, but relative to the opening opex, VIX is really -3%.
ALL micro-cycles look floored, and the daily charts are similarly looking floored.
Regardless of the fed-speak, I'm guessing the bull maniacs will use it as an excuse to rally.
A close in the 1660s looks very viable today.
Its not like we're not seen this kind of move a few hundred times before.
*I'm sick of this market, I ain't getting involved.
Good luck to those who are. The obvious long-stop is the earlier low of sp'1642
2.03pm..Fed press release..not exactly pleasing the market.
If the 1642 low goes, then imminent threat of 1635.
2.10pm..well, there go the 1642 long-stops.
Yields rising..USD ramping..metals on the slide.
Bull maniacs are rattled.
2.33pm..and here come the bulls.
It remains a train wreck of a market on Fed days...best left alone.
2.40pm.. dumb bears...getting nuked...there can be no excuse..they had a few days to exit.
Sp'1680s remain the obvious target.