3pm update - weakness into the close

Despite the FOMC minutes touting more 'patience', equity indexes remain moderately weak, and look set to slip further into the close. Immediate thresholds remain sp'2092, along with VIX 16.70s. Metals are holding minor gains, having bounced, Gold +$1. Oil is resuming the slide, -2.6%.


sp'60min

vix'60min

Summary

So... despite a brief jump... market looks set for weakness.

Primary target within 2-3 days is the 50dma of sp'2045.. which is itself rising each day.
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Notable weakness, financials... BAC -2.1%
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3.26pm... Indexes back to flat...  VIX flat....    hmm


3.38pm.. A brief hit of sp'2100... and a little selling... but still... tiresome day of very little.


3.42pm.. VIX looks floored on the 15/60min cycles... from 15.74...   what will be decisive is whether VIX gets stuck in the mid 17s... or can put in a daily close >17.50 within remainder of the week.


3.50pm... Who wants to buy over sp'2100 right now?   Hmmmmmm

back at the close....