3pm update - severe net weekly declines

Regardless of the exact close, all US indexes are set for rather severe net weekly declines of 3-5%. The VIX is fully reflecting the increasing anxiety ahead of next Wednesday's FOMC, +22% in the 23s. Might the fed aim for a compromise, with a 10/15bps increase, rather than a 'monstrous' 25bps?


sp'weekly1b

Summary

... am getting a little tired.... thank the gods.. its almost the weekend.
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notable weakness...

miners, FCX

If things do get nasty in 2016.. FCX would be one of the names on the 'might disappear' list. I'd imagine Mr Icahn would fiercely disagree though.
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3.20pm.. new intra low.. sp'2011.... as there is simply no real support until the psy' level of 2K.. and then price cluster zone of the 1990s.

VIX +27% in the 24s...  with the 2x TVIX/UVXY net higher on the week by around 50%.


3.24pm.. sp'2009.... ugly.... net weekly decline of 82pts (3.9%).. so far.


3.46pm.. VIX +28% in the 24.90s...  which is the kinda zone we'd expect with sp'2K.  So.. if 1990.. 27/28.. max.
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back at the close..................