US equities continued the bounce from the Tuesday afternoon low of sp'2446. The closing hour saw an intra high of 2469.64, just fractionally shy of the upper gap zone of 2470/76. Its possible that might be partly filled tomorrow, but broadly.. renewed weakness to the 2430/20s seems very probable.
With equities continuing to claw upward, the VIX was in melt mode, settling lower in the mid 11s. If sp'2430/20s within the near term, that should equate to VIX back in the mid teens. For the key 20 threshold, we'll surely need sp<2400, and that looks far more viable in late Sept/early Oct'.
|Sunset, 2.25pm EST... as summer is waning|
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Goodnight from London
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