1pm update - hold the line

US equities are holding moderate gains, just below what is the upper limit for a RS of a H/S formation that stretches all the way back to mid February. Unless the bulls can break >1875, the bears have a prime opportunity to turn this market lower - after last weeks bearish weekly warning.


sp'60min

Summary

Not much to add....we're simply holding just a few pts shy of violating the H/S formation.

Price action looks toppy, and a return to the 1865/60 zone is viable by the close of today.

I would still expect another brief spike to 1870/75 tomorrow, at the time of the announcement.
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(1978...yeah...the distant...fading past)
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yours...waiting for the Yellen...