1pm update - churning ahead of the fed

US indexes have likely floored at sp'1999.. a rather typical minor down wave of -0.5%. The Fed beige book is due at 2pm, and that might be enough of an excuse to push the market back to the morning highs. Oil is holding sig' gains of 1.4%.


sp'daily5

Summary

Little to add...

Most of the big down moves look to have levelled out, even AAPL has recovered around 1% from the lows.
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Lets see how the market reacts to the Beige book in the next hour.

*it is notable that the VIX has turned fractionally red... a daily close in the 11s would be very viable.