The main indexes are holding very minor declines. The smaller 5/15/60min index cycles all look primed to snap higher. Metals have rebounded, with Gold back to flat. Oil is holding significant gains of 1.4%. VIX is holding effectively flat in the mid 14s.
I wish I could believe in the following Fed outcome...
As it is, I'm guessing it will actually be the USS Equity-Bear
So...lets see what the FOMC have for us!
*special note again...the 'real action' is more likely once the Bernanke press conference is done, rather than the initial press release.
2.01pm... lol...what a farce. Not even a mild cut...
naturally. .market snaps to new all time historic highs.
Bears getting nuked.....the horror :(
VIX smashed -7%... sp' set to close in the 1720s.
Awful day for those on the short side without stops....this is about as bad as it could.
2.08pm... metals screaming higher.. from earlier -$13... to +33.
Despite things being a little twitchy out there, ZERO reason why the gains..in market won't build.
So, a close in the 1720s.. VIX 13s, and ...everything is all fine..with the printers at 85bn a month. Great huh ?
2.13pm..fierce gains now.. vix -8%....and a close viable in the sp'1730s ?
2.25pm....and this is the kind of hyper-ramp nonsense that scares me. There is no reason why sp'2000s won't be hit in the early spring.
QE ain't ending..hell, they won't even cut if back a little.
A close in the 1730s, with sp +1.5% now looks very viable..along with VIX 12s.
2.30pm.. a clear break on the daily charts...
Ohoh, and here comes the Bernanke..which will probably last a good hour.
2.42pm.. all weekly index charts looking hyper bullish into next week. sp'1740/50s now look viable by end month (hey deflation land..you're back on track !)