12pm update - probable spike floor at 1777

A pretty weak morning for the market, but hey..the sp'1772 low from last Thur/Friday is holding, and the 15/60min cycles are highly suggestive that we have just put in a low at 1777. A daily close in the 1790s will be tough, not least with the uncertainty of the FOMC.


sp'60min

Summary

Looks pretty reasonable for a spike-floor, but clearly..the market is weak..and a little twitchy ahead of the final FOMC decision of the year.

Indeed, it will also be the final Bernanke press conference, we're gonna miss him, yes?
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VIX update from Mr T.



time for tea:)