12pm update - set for another daily gain

Despite another morning reversal from sp'1950 to 1929, US equities still look set for a third consecutive daily gain. The 1970s remain a very reasonable target, and look on track within 2-3 days. The only issue is whether the bulls can somehow drag this out into FOMC week.


sp'60min

Summary

... and considering the recent price action, it is going to be very difficult for the market to hold together into FOMC week.

Clearly, the fed aren't going to raise rates on Jan 27th... nor for the first half of 2016.. as equities are set for much lower levels.

Keep in mind, we have a Fed beige book at 2pm, and that will be an excuse for late day rally
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VIX update from Mr T.




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time for lunch