11am update - borderline significant

US equities are breaking new cycle lows to sp'2077.. with VIX battling upward to 16.17. It would seem extremely probable that 2116 is a short term peak, and we're set to decline to the 2020s, but that will take until opex week. Oil is notably weak, -1.2% in the $43s.


sp'daily5

VIX'daily3

Summary

With a break into the 2070s, there should be little doubt now... a test of the 200dma (sp'2062) is due this week.. the only issue is how much below that can we fall this week.

Right now, the 2040/30s look overly difficult.
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notable strength: DIS +0.8% in the $116s... as the Star Wars hysteria inexorably builds

weakness: TWTR -4.0%.. the momo chasers are on the run today.