3pm update - battling for a close in the 1790s

The Sunday night futures of sp -15pts now look somewhat laughable. Instead of the sp'1750s, we're set for a daily close in the low sp'1790s. Metals are losing their gains, Gold +$5, whilst Oil is holding +1.0%. Once the uncertainty of the FOMC is out of the way... things should be real straight forward until late January.


sp'60min

Summary

It remains an extremely quiet start to the week.

The VIX remains a touch positive, and normally I'd be highlighting that as a major problem for the bulls, but..unless you really think the Fed will change policy this Wednesday, the VIX is to be dismissed.
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An hour to go..lets see if we get a daily close in the 1790s. Certainly, the underlying pressure should be enough.


3.33pm.. a micro wave to the downside..but hey..we're still holding half of the opening gains, and considering the recent weakness...bulls should be more than content.

Some interesting strength in Ford (F)....whilst the TWTR is cooling down after last weeks hyper-ramp.


3.44pm.. the micro 5min cycle due to snap higher into the close...bears in trouble.

A close in the 1790s..still viable.