"NFV" has corrected to 1170.37.SPX at 1,193.88. I don't know why the large divergences are always such that NFV is below SPX. Once they diverge, it seems very hard to get them within a few handles again. One thing is clear though, NFV is some sort of eigenvector/eigenvalue of SPX, even when they diverge. The phase between them stays the same, it is only the magnitude that is divergent. I know that I am very close to having a highly accurate description of the forces that move SPX. If we think in energy/momentum space instead of position/time space (they are equivalent), it may be more rewarding.
"NFV" ~1181. NFV has converged with the SPX as it closed yesterday, but spooz are strong premarket so the divergence is still about 10. SPX converged towards NFV this time.
FOMC decision at 1:15 CT. In theory, there is about 10 delta of an interest rate hike. In practice, it is zero delta given that the FED sees no inflation and we still have exceptionally high unemployment. But be prepared for a language change, imo. Spooz will rise into the announcement, that may be an opportunity if you have the stomach to short it. A ratio straddle that leans short is most prudent.