10am update - opening weakness

US equities begin the week moderately weak. Further declines to the gap zone of sp'2065/61 - with VIX 16s, looks more viable after the Wed' FOMC. The real issue is whether the equity bears can at least attain a fractional net monthly decline (<2059).


sp'60min

VIX'60min

Summary

*bear flag on the equity chart... confirmed.
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Typically, today will be the more dynamic day - relative to Tuesday, which is typically pretty subdued ahead of an FOMC announcement.

In any case... sp'2111 is now 29pts to the upside....    for the bears... its a start.

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notable weakness, DB, daily

Not exactly the most bullish start to the week. A break under the 50dma in the $17s looks probable.

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stay tuned