Today is setting up as a potentially wild ride, with plenty of earnings, employment, oil inventory and sentiment data to digest…on top of a FOMC rate announcement that could surprise in its hawkishness.
SPX came within 5 points of our next downside target yesterday before VIX began its daily plunge — this time a 10.8% crush after coming within a smidge of our 13.01 target. 
VIX’s plunge continued overnight and, along with USDJPY’s bounce off our downside target and CL’s usual ramp job has levitated the futures just ahead of the open.
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