11am update - morning swings

US equities are seeing some rather significant swings, having cooled from a high of sp'2021 to 2002. Considering the current mainstream mood, further weakness into the 1990s looks probable... whether tomorrow or Wednesday. VIX is naturally pushing upward, +5% in the 25s.


sp'60min

VIX'60min

Summary

sp'2002 is very likely the low of today.

Broadly though... there is ZERO reason to expect the market to pick a firm direction until after the FOMC announcement... along with the press conf' itself.

Where we close Wednesday afternoon, will be infinitely more important than anything before then.
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notable movers..

DIS +1.1%
FB +0.7%... the momo chasers are starting to appear

CHK -5.5%... having lost the $4 threshold
RIG -2.7%... SDRL -4.7%
GDX -2.7%.. as metals/commodities remain broadly weak.
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Meanwhile... here in London city....

Certainly.. matching the market mood. Urghh.
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time to cook.
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11.14am.. new intra low of sp'1999.. with VIX 26s.

Hmmmm