12pm update - the chop continues

Equities continue to see minor weak chop ahead of this afternoons FOMC announcement (2pm). No doubt the fed will announce QE taper'7, but.. will the Yellen say something stupid about interest rate policy?


sp'15min'2, H/S formation scenario

Summary

Little to add...

Possible H/S formation setting up. If so.. primary target is around 1995.
--

Best guess... 1995/90 zone later today.. before more upside.
--

time for lunch
-

12.40pm.. With the break to 1997.. it invalidates the H/S scenario.

So... back to the original ABC outlook...