US equities have already seen an early bounce from the opening low of sp'2063. Regardless of any further bounce/chop, there is considerable technical damage seen in the bigger weekly cycles. Despite USD -0.8% in the DXY 96.40s, metals remain weak, Gold -$3, whilst Oil is -1.5% in the $47s.
...back from lunch.
There is a lot to cover... bear with me.
re: VIX... an opening high of 16.00.... upper gap zone is around 16.60.
However, if you consider Dow 17k as a valid target in the near term, then VIX is set for the low 20s.
A second green candle... and with the MACD (green bar histogram) cycle set to turn positive cycle late today/early tomorrow... equity bears have momentum increasingly swinging their way.
notable weakness: BABA -2.8%... no doubt, the China market is not helping
TWTR -3.5% in the low $34s.. earnings are tomorrow I believe.
Energy stocks, SDRL -4.2% in the $8.20s... dire... the 6/5s look due.