US equities start the week a little choppy, and are leaning on the downside.. at least until the typical turn time of 11am. Broadly though, the market looks set to battle upward into the FOMC.. and possibly somewhat beyond.. the sp'2050/70 zone remains a very serious threat to those short ahead of the fed.
So... early pre-market gains sure didn't hold.. and we've already hit sp'1949... just 14pts above rising support.
VIX is +4% in the 24s.... but certainly... nothing for the equity bulls to be overly concerned of.
I've eyes on QCOM...
If I do pick it up.. it'll be a moderate position, one I'd want to drop if sp'2000s later this week.
For the moment... I'm just watching.
10.03am.. DIS is almost lower by $1... and that seems a better play than QCOM.
sp -7pts .. 1953. Hmmm
10.07am. . DIS -$1.05... yeah.. this is getting tempting.
Best guess 1949/47 by 11am.
10.23am.. DIS -$1.46... now super tempting... I'm waiting on sp'1949/47.. by 11am.
10.37am.. market is twitchy... still... no hurry.
time to cook............. back soon