1pm update - a spike... and a fail?

US equities remain moderately weak, but for now... comfortably holding above the key 50dma of sp'2060. The smaller 5/15min cycles are primed for a spike AFTER the FOMC announcement. Whether the bull maniacs can hold the gains.. that is the issue.


sp'15min

sp'60min

Summary

*across remainder of the day, I will probably highlight the smaller 15... or even 5min cycles.
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To be clear....

Smaller equity cycles favour the BULLS... at the time of the announcement.

Hourly cycle will be offering a new multi-day high of 2085 or so... but the issue is whether we just end up with a huge spike-fail candle.

Any sustained trading above 2090.. and bears will have to wave the white flag..  its that simple.
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back... just before 2pm.