1pm update - quietly waiting

All aspects of the US capital markets remain in a holding pattern ahead of the 2pm announcement. Almost as important though.. the subsequent press conf', where Yellen will have around an hour to negate any initial post-FOMC sell down.


sp'60min

Summary

Little to add... ahead of the Fed.

From a pure cyclical perspective, momentum is swinging back toward the bears. Right now.. the 2025/20 zone would be briefly viable... post announcement.

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notable weakness

AAPL, daily

Not great price action, with continued talk about lower than expected iphone sales.