It was a day of swings in equity land, but then it was opex, which inherently leans to chop. The spx saw a morning high of 2797, but then swung lower to an afternoon low of 2760, and settling at 2767.
Volatility briefly broke above the key 20 threshold, but then resumed back into cooling mode, settling in the upper 19s. Regardless of how Monday might open, a marginally lower low (<sp'2710) looks rather probable next week. Whilst that will spook some, it would make for a more natural and solid floor, ahead of the US midterms (Nov'6th).
Bonus chart: Germany, monthly
With eight trading days left of October, the DAX is currently -5.66% at 11553. There is zero sign of a floor/turn, and this remains a real problem for the equity bulls.
|Night falls in the London metropolis|
|SpaceX to the moon... and beyond!|
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Goodnight from London
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