10am update - opening.. shaky gains

US equities open with some minor gains. Underlying pressure looks bullish into the early afternoon. Whether the market rolls over after the Fed press release...that is the question. VIX is naturally a little lower, should find a floor in the low 14s today. Metals are weak, Gold -$6


sp'60min

VIX'60min

Summary

*note the upper bollinger..now @ 1876..and falling fast. Bulls will face strong resistance in the 1865/75 zone today.
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Opening reversal (hollow red) candle on the VIX, but..considering we're only in the sp'1850s...I ain't getting involved this morning.

A long day ahead, even though the only event due is a press release from the Fed.


10.09am... minor chop..but the upside pressure IS there.

I should again note, I am somewhat cautious..since Thur/Friday there is QE. Now, it ain't 'huge' $5bn..those days are currently over...but I'm still a bit twitchy about holding short across 2-3bn of QE.


10.35am.. bulls pushing.....the 1860s are a'coming