US equities break another intraday low, to sp'1904, with VIX +8% in the 21.70s. Despite the very significant declines, there is zero sign that the market is in trouble of unravelling. Indeed, the the 1900 threshold is next key support.
Another few weeks of day to day swings like these, is really going to confuse many.
Most notable today remains the VIX, which is still failing to show any real upside power.. stuck in the 21s.. and a very long way below the Jan'20th high of the 32s.
RIG -8%, SDRL -8%
strength: TVIX +11% in the $9.20s.. but that is a long way below the $12.90s high from 2 weeks ago.