12pm update - awaiting the Fed

The indexes are comfortably holding moderate gains, and there is no reason why we won't at least (briefly) spike above the recent sp'1563 high. A close in the 1570s is very feasible, with VIX back in the low 12s/11s. USD remains lower, metals and Oil look to have floored.


sp'60min

vix'60min

Summary

Everything looks on track.

Its impossible to predict  how we will close..but I'm pretty confident we'll see at least a 'stupid' spike/ramp higher..taking out all the bear short-stops @1563.

Whether we then see a fierce reversal into the close, I don't know.
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*I am sorely tempted to re-long USO. Hmm

USO, 15min

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VIX update..from Mr T.




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Bonus video...from Ron Walker




back at 2pm