US equities continue to slip, with all the main indexes now significantly lower. It is notable that the 'old leader' - Transports, has taken out the 50/200 day MAs. VIX is holding gains of around 8%, but still in the relatively low upper 15s.
Well, its kinda interesting... but really... even a daily close in the 2040s won't get me particularly excited. For that... I need the 2020s, and that is clearly out of range today.. if not until Friday.
VIX has plenty of upside spike territory to the 19/21 zone. The bigger weekly cycle offers 25/28s.. but that looks out of range in the current cycle.
For now.. a realistic outcome is 2040.. with VIX 18s.
Best case... 1990s.. with VIX 20/21s... briefly.
In either case.. another bounce... at least to 2050/60s.
notable weakness... DB, daily
... with the Australian central bank cutting rates.. its a reminder that low rates.. or worse - NIRP, are a disastrous monetary policy for the financials. When DB loses the $15s, it'll be a clear signal the broader world markets are about to snap powerfully lower.
time to cook