1pm update - interesting afternoon ahead

The broader market is holding moderate gains, with the sp' seeing a secondary minor up wave..but still...stuck under the recent high of 1886 - a potential double top. There remains distinct weakness in the R2K, and even the Trans/Nasdaq are somewhat below their earlier highs.


sp'60min

Summary

*FOMC minutes are due at 2pm..and no doubt..we'll see some kind of reaction from that.
--

Considering the continued weakness in the R2K..I'd be inclined to look for renewed downside this afternoon, but with the Fed press release due, I'd be wary of taking on a short position.
-

I am on the sidelines, and right now..have little inclination to get involved ahead of the 3 day weekend. I'm kinda tired!


1.19pm.. a lot of resistance in this sp'1885/87 zone. A daily close above it would bode for upside into next week..with new highs very viable.

Flip side...another rollover..<1860..and we fall hard to 1800/1780......

Best guess..we go up.....which having exited longs earlier...is somewhat ironic to say.
 --

awaiting the fed press release......