2pm update - time for a press release from PRINT HQ

The US equity market has already managed to break above the giant sp'2K threshold, with the bears having a third consecutive lousy day. There is viable flash downside to the 1960s... whilst underlying upward pressure to 2040.. where the 50dma is. Arguably.. BOTH levels could be seen this afternoon.


sp'60min

Summary

*I have NO positions.. and frankly... that feels rather good right now.
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... standing by...

UPDATES across the hour... and into the close.


2.01pm.. NO CHANGE , lol

WEAK MINDED FED.

For the bears.. this is good.. it keeps the uncertainly into October.
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2.08pm.. This is going to be a wild ride this afternoon.... VERY unstable conditions as stops get hit on BOTH sides.

VIX flashed to the 19s... but now vulnerable to 23/25.. if sp'1970/60s...
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I remain content to watch...  
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2.16pm.. USD continues to cool, -0.9%... but notably...  Gold +$10.. with Oil back to u/c


2.26pm.... Its VERY amusing seeing the talking heads....  'the weak fed' is arguably one of the key themes.

For the bears... this is great... the uncertainty continues... and another major wave looks due... probably beginning within 2-3 days.
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.. the Yellen approaches......... bears AND bulls... beware.
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2.36pm.. So, we're already seen the VIX 18s..... 17/15 zone sure doesn't seem a bold target now.

Best guess remains.. sp'2040 or so...



2.45pm.. NEW highs.. sp'2008.... barely 1.5% from prime target.    VIX 18s.


2.46pm.. Liesman gets first question of course..... soft ball question... and Yellen is inspiring renewed strength...

We look headed for the 50dma... around 2040.... more viable tomorrow/next Mon/Tue.