10am update - opening weakness

Market slips in pre-market, and opens a little weak. Certainly, its nothing for equity bears to get overly excited about. The sp'1772 low will most likely hold today, ahead of the uncertainty about what the Fed might do tomorrow.


sp'60min

vix'60min

Summary

*the VIX is higher for a sixth day, and this marks the second series of rather consistent (if minor) gains. As far as I know, the recent 8 day run was itself a record, it'd be a real surprise if we saw further gains across the rest of this week.
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Baring a break <1772 - which I really don't expect, today and early Wednesday will most likely be a bit of a chop fest. There is little reason why the market will see any significant price moves until the FOMC is out of the way.

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Notable strength: FB +2%, into the $55s, clearing the Oct' high..and opening up the low $60s by year end.

STX is up another 2% in the $52.50s.


10.25am.. weakness in the market..but really, not enough to break 1772. With things like FB and GOOG on the rise...market should hold together into the fed decision tomorrow.