11am update - moderate weakness

US equities remain moderately weak, and we already have an early floor for today of sp'2005, with VIX only managing to hit 17.85. The rest of today offers a great deal of chop, with high threat of a post FOMC spike to the gap zone of sp'2038/43... before another key lower high is put in.


sp'60min

VIX'60min

Summary

*I didn't notice the opening black-fail candle in the VIX. It doesn't bode well for the equity bears.. this side of the FOMC.
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Well, there really isn't much to add.

Pre-FOMC chop.. a little weakness, but it still appears we'll push somewhat higher tomorrow afternoon.. if briefly.

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Meanwhile..  in bio-tech land....

VRX, daily (linear chart)

Another dire day for the much beloved Valient. A lot of big money has been vapourised in this one!