2pm update - witchy market

US equities remain moderately higher, with a new cycle high of sp'1975, with VIX 15s. Metals are holding minor gains, Gold +$1, and with the FOMC tomorrow, there remains high probability of renewed weakness in the precious metals. Oil is +0.5%

Will this market melt down too?

sp'60min

Summary

*surprisingly, even though its not Christmas morning, one of the UKs main film channels is broadcasting Wizard of Oz this early evening.
--

Little to add.... market remains in melt mode... but unlike the wicked witch... its melting..slowly... UP.

Best guess... 'relative' chop into the FOMC.. before renewed downside... but with a new historic high for the Transports... we are now more likely to hold the 1920/00 zone.. than break back under it.

yours... awaiting the munchkins.... somewhere over the rainbow.