It was a day of moderate chop, opening lower to sp'2717, recovering to 2737, but then breaking a new low in the afternoon of 2706. Volatility remains relatively elevated, with the VIX settling above the key 20 threshold. Further cooling to around sp'2670 is due within days, and that should equate to VIX within 25/30 zone.
To be clear, I do NOT expect 2532 to be broken, before a push to big target of 2950/3047 zone, where they are many key aspects of resistance. That will clearly take some months to play out.
Bonus chart: TLT, monthly
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Goodnight from London
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