1pm update - waiting for a turn

US equities remain moderately weak, but a turn is now due, after what was just a natural retrace of the Wed' hyper-ramp. Metals remain broadly weak, Gold -$2. Oil is back on the slide, -4.5%.. the rallying USD is no doubt putting renewed pressure on $ denominated assets.


sp'15min

vix'60min

Summary

*VIX is a real mess... today's equity declines are not being reflected... market is not concerned.. with the FOMC out of the way.
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Little to add... on what is just a natural retrace.
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Equity bulls should be content with any daily close above sp'2080... the 2090s would be a bonus.
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Notable weakness:  energy stocks, BTU -5%, CHK -4%, RIG -6.5%