US equities are clawing upward, which is more impressive when you consider its the morning ahead of the FOMC. VIX has been ground into the 21s.
sp’60min
VIX’60min
Summary
S/t momentum continues to increase, as teal gap is set to be tagged. Ironically, the post FOMC setup will now favour the bears into the close, and more so… for Thursday.
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notable energy: MRO
Marathon reflective of the sector. Things turn decisive >13.00. I hold for the $14s.
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notable weakness: ADBE
Earnings were good, and despite a few upgrades, the stock is still net lower.
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notable Dow component: AAPL
The 50dma $148s will be first resistance. Bulls need to see >psy’ $150 to have renewed s/t confidence.
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notable miner: CLF
Cleveland is higher with the main market. Yesterday’s candle was conflicted, with a bounce from the 200dma… but it was black. Cyclically very low. M/t bullish 39/40.
Time for lunch…