12pm update - holding pattern

Mr Market is in a holding pattern of minor chop.. ahead of the Fed. Interestingly, the smaller 5/15min cycles are resetting, offering a minor spike higher on the announcement. Trans is looking toppy.. having broken another new historic high this morning.


sp'15min

Trans, daily

Summary

So.. as things are... with the 15min MACD cycle as it is.. we could continue seeing minor weak chop until 2pm.

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VIX update from Mr T.


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back at 1pm