12pm update - a little cooling

US equities continue to cool from the early high of sp'2050. A retrace to 2025/22 remains very possible in the Wed' 2pm hour.. before pushing powerfully back upward. Oil continues to help the market mood, +2.2% in the $36s.. ahead of the next pair of inventory reports.


sp'daily5

USO'daily2

Summary

Little to add.

To be clear... there is HIGH threat of retracing to the 2025/22 zone tomorrow with the FOMC annoucement... but then still closing higher.

Market mood is increasingly positive, with indirect confirmation as Mr Contrarian.. aka Gartman, is now bearish.
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VIX update from Mr T.




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time for tea :)