11am update - naturally churning

US equities remain in minor churn mode... as is to be expected, ahead of the FOMC announcement. It is notable that the VIX has already fallen into the 15s, and that didn't even require the sp'2030/40s. Another 3 hours of minor churn are due.


sp'60min

VIX'60min

Summary

*EIA report: weekly inventory surplus: 1.3 million barrels. Certainly, smaller than recently, but still.. the issue of over-supply remains entirely unresolved.

Sustained action above the $40 threshold looks out of range.

--
notable weakness...

TVIX, daily

Ideally, the lower bollinger... $5.50/5.20 zone, but that is a fair way lower from here.. and is more viable tomorrow.

--
time to shop.. .back soon