With US equities battling for a marginally positive close, the VIX remains subdued, and continues to melt lower, currently -1.7% @ 17.40. Metals have managed to build gains, with Gold +$10 and Silver +0.8%. Oil is helping the broader market mood, currently u/c in the $34s.
Little to add.. on what is a mere consolidation day before renewed upside.. whether tomorrow or Friday.
Not surprisingly.. TVIX is breaking a new cycle low, the 6s look due. I suppose 5s are viable, if sp'2035/40s.. with VIX 15s at the time of the next FOMC.
back at 3pm