US equities open sharply lower, with all indexes lower by a clear -1%. VIX has naturally jumped, into the 16s... with next key resistance of 17/18. Metals are catching a fear bid, with Gold +$19. Oil has swiftly lost early gains of 1.0%... already turning a touch red.
*the opening black-fail VIX candle - seen better on the hourly chart, I am somewhat dismissive of. An equity retrace is clearly underway, and regardless of any intraday bounces... VIX 17/18s look a given.
Two down days in a row.... about bloody time!
Finally, some dynamic price action in the broader market, with more to come across the next 3-6 days
On any basis though... the clock is ticking.. equity bears have until next weeks FOMC.
Notable weakness: airlines, DAL/UAL, both -3.5%
Strength: miners, GDX +4.4%, but STILL stuck around old broken support of $20
10.38am.. sp'2034.. just another 5pts to go... for today... VIX 17s.. look due.
Notable gains in the metals, Gold +$27..the old 'fear bid' issue.