Pre-FOMC chop

US equity indexes closed a little mixed, sp -3pts (0.1%) at 2640. Nasdaq comp' -0.8%. The two leaders - Trans/R2K, settled +0.5% and -0.1% respectively. Near term outlook offers sig' downside, on a break under the 50dma.

sp'daily5

VIX'daily3

Summary

Little to add... for what was a day of mostly micro chop. Tomorrow should be far more dynamic.

Volatility saw a failed attempt to break back above the key 20 threshold, settling in the 19s. S/t outlook offers a break under the 50dma of sp'2610. If that is seen, volatility should spike upward to the 24/26 zone.
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Goodnight from London
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