Wednesday, September 10, 2014

Charts 09-10: FOMC lining-up well for a top

The larger channel defined by the 2-4 trendline here has its center right at SPX 2023 at 2:00 PM on FOMC day next week, which would work well with W1-W5 similarity and the daily Bollingers on the S&P.  Upward chop until then.

SPX 09-10

The lower Bollinger on the UVXY vol ETF bottomed at 18 last week and has come in quite a bit to just over 21.  I would love to see VIX die into the wait for FOMC next week and to pick up UVXY under $22.

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