3pm update - just another crazy bounce

Regardless of the close, it has been a typically crazy day in market land. Despite notable major declines in some other world markets, the US market still managed another strong bounce. Outlook remains for sp'2000, before the FOMC... and then up into next year.


sp'60min

VIX'60min

Summary

*equity bears should be aiming for a daily close, at least under the hourly 10MA... anything in the 2030s would be a bonus.. considering the earlier high of 2055.
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Current price action is starting to get rather entertaining.. with a rather dramatic 2pm candle. The rats are starting to finally realise.. today (much like Tuesday).. was just another stupid bounce.
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Target remains. sp'2000, before next Wed' FOMC.
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3.04pm.. WTIC Oil fails to hold $60.... ...

welcome to the $59s.....next soft support 57/55.