VIX, USDJPY and CL are all working to keep stocks afloat in the run-up to this week’s FOMC meeting.  Aside from its rising purple channel breaking down, VIX dropped below its recent low of 10.02 on Friday. This is nothing new, as it’s important to central banks that their policies be seen as beneficial to “markets.”  ES is currently up 4 points.

continued for members…

I’m working on a significant, big picture post this morning.  So, for now, I’ll post the relevant charts for the day and leave it at that.

SPX is still working towards its 1.272.  Between gaps higher and meltups, it should reach it.

While, ES stopped just short of its.RB and CL are maintaining their prices in order to be seen as supportive.  I’m holding short on them, but will switch to long if CL closes above its SMA200 or RB breaks out of its falling channel and SMA5 200 (1.65ish.)

Likewise, USDJPY is rallying… …even though DXY is falling. VIX is still breaking down.And, GC is falling apart — again, even though DX is falling.UPDATE:  9:50 AM

Not exactly a shock…