2pm update - on the high end

US equities are on the high side of the hourly cycle, ahead of the FOMC announcement. There remains clear threat of a very brief (as in an hour.. if not minutes) flash lower to the 2025/22 gap zone, before surging powerfully higher. First upside target is the 2080/85 zone.. then 2100..  with ultimate target of the historic May high of 2134.


sp'60min

Summary

Regardless of ANY immediate post-FOMC drop... it surely won't last long.. and the sp'2100s are now back on the menu in the immediate term.

For now.. any thoughts of mega downside should be on hold.

Eyes on the next set of Oil inventory reports... if those both show net declines... it'll really help market sentiment tomorrow and into next week.

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notable weakness...

TWTR, daily

Pure horror for this once prime momo stock. It has never recovered since the earnings were leaked in the 3pm hour on a Thursday afternoon in late April.

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stay tuned