Jackson Hole turbocharges the FOMC market cycle

Mid-week market update: The stock market has mostly followed an FOMC cycle where prices decline into an FOMC meeting and rallied afterward. While the Jackson Hole symposium wasn't an FOMC meeting, it nevertheless seems to have sparked market weakness. 

After the S&P 500 stalled and pulled back at its 200 dma, I thought that it might experience a minor setback The market action is pointing to a deeper downside as every rally attempt this week has been met with selling. Both the VIX and S&P 500 appear to be undergoing Bollinger Band rides: An upper BB ride for the VIX and a lower BB ride for the S&P 500. 

The full post can be found here.