US equities remain somewhat spooked by news that Ukrainian artillery have fired on a Russian military convoy. VIX has swung from -2% to +13% into the low 14s. Metals are rebounding, Gold -$7.
Perhaps most notable right now.. we have bearish engulfing candles on most of the daily charts. Certainly, this mornings reversal does bode for further weakness next Monday.
As things are... unless the news gets really scary across the weekend, it is merely another pull back to be buying.
*I will remain content on the sidelines across the weekend.
VIX update from Mr P.
time for tea
12.16pm.. chop chop... but then.. it is opex.
So.. bears have managed a reversal...but how about the weekly close? As noted yesterday, bulls should be content with the 1940s... that'd still make for a net weekly gain.
Notable weakness: R2k, -1.0%.... almost a full 2% swing from 4hrs ago.