10am update - opening minor weakness

US equities open a little weak, but the market will likely be increasingly subdued into the early afternoon. USD is somewhat weak ahead of the FOMC announcement, -0.2% in the DXY 95.10s. Gold is -$1, whilst Oil is battling to push higher, +0.5%.


sp'60min

VIX'60min

Summary

Things are already feeling a bit tense in market land.

Best guess... the Fed raises rates, and regardless of any initial sell down (literally minutes.. rather than hours/days).... the market will likely close in the sp'2000s today.

I can't short this market right now... I really won't feel comfortable until the sp'2040s or so.

*I've eyes on USO...

... but would only consider on any move to the 15.10/00s, and even then.. only a micro position. I've little interest in being involved ahead of the Fed.
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10.02am.. Phil Fed -6.0 (8.3 Aug)...  lousy number for the econ-bulls.-
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time for an early lunch