2pm update - time for a fed press release

Its time for the first fed press release of the year, the minutes of the Dec' FOMC meeting. No doubt, the algo-bots will be looking for an excuse to wash out another tranche of short-stops this afternoon. A daily close in the sp'2025/35 range looks likely.. along with VIX 19/18s.


sp'60min

Summary

... awaiting the fed... due 2pm
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Despite what some might say... we have a clear break of down trend... and we're importantly holding the sp'2020s. A daily close in the 2030s would merely be a bonus.. and set up 2045/55 before the weekend.

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Notable strength:  F, +2.8%, perhaps on the notion of higher vehicle sales.. as consumers have more spare cash.

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weakness: TWTR, -2.5%.. after yesterdays strong gain.


2.04pm.. Market a touch twitchy... but starting to pick up again... new highs look due... even in the laggy R2K.

VIX set for a close in the 18s. It should pretty much clarify the rest of the week.