11am update - shaky gains

US equities are turning to the downside, lead lower by the R2K (-0.6%). VIX has battled 5% higher.. back into the 18s. However, with the Fed due at 2pm... those getting excited about a possible break of the sp'2019 low... are likely in for a disappointing afternoon. Metals remain weak, Gold -$6.


sp'60min

GLD, daily

Summary

*Gold is an interesting one.. price structure is a bull flag.. but I'm looking for a daily close under the 10MA, which keep open the notion that we have a multi-week up wave... complete.
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So... red indexes... but price action is clearly a lot stronger than yesterday.

Unless the Fed say something real stupid in the press release about interest rates, the market looks set for late afternoon strength.

**It is also the typical turn/floor time of 11am...  arguably, the prime opportunity of a break <2019 is right now.. or not at all today.

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Notable gains: AAPL +6.8%.. still comfortably holding the bulk of the opening gains.
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11.40am.. chop chop.. back to sp'2029....  not much to expect between now and 2pm