12pm update - battling to break above resistance

The sp'500 has already come close to turning positive, but was rejected at soft declining resistance of 2073. Price action remains pretty choppy, not least as Oil continues to see sig' swings (intra low $36.64), currently -0.5% in the $37s. 


sp'60min

USO'daily2

Summary

It sure ain't boring.. as the market continues to see rather wild price chop.

Broadly, it remains a case of the market trying to adjust ahead of the Fed raising rates next week.

Ironically. I'm guessing we'll see the market close net higher next Wednesday... and that will naturally surprise the mainstream... and the many lunatics on sites such as Zerohedge.
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notable weakness.. QCOM -4.5% @ $50.05

airlines, DAL/UAL, both lower by around -3.5%

Indeed, the Transports index is -2.4% in the 7600s... which in itself is a red flag for the broader market. Hmm

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VIX update from Mr T.



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time for tea :)