1pm update - just another hour

US equities remain in churn mode, as the market awaits the 2pm press release.. with Yellen due to hold a press conf' around 2.30pm. No doubt, price action will get real twitchy.. real soon. Metals remain somewhat weak, Gold -$4, with Silver -0.3%.


sp'15min

VIX'60min

Summary

So..a minor wave lower... but its clearly still a case of broad chop ahead of the Fed.

Considering the underlying price pressure, a spike higher to the 2030/40s still looks viable later today.

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Meanwhile... Parker of Morgan Stanley downgrades his end year target...

In the scheme of things though... its relatively minor.
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1.17pm... sp -5pts... and the setup will favour the bulls once the press release appears.

Without question, bears want the market to be rising into the afternoon.. not lower!
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1.28pm.. notable weakness.... miners, GDX -2.4%... as Gold is -$4...   Hmm

1.39pm.. sp -5pts..  VIX remains -3.5%....  kinda unusual !