10am update - renewed weakness

US equities open moderately lower, with the sp' already back in the 2040s. VIX is higher for the third day, the 17/18s look likely by end of the week. Oil breaks a new multi-year low, -2.5% in the $61s. Metals are cooling after the recent two days of strong gains.


sp'15min

Summary

So... we're back on the slide... with the obvious first soft target being yesterday's low of 2034.

VIX is certainly confirming the increasingly twitchy market... it looks set for the 17/18s... if not 'briefly' 20 threshold. 

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Notable weakness... (not surprisingly) energy stocks...

CHK, weekly

Seen on the bigger weekly cycle.. the downside for Chesapeake is pretty clear.. its very likely headed for 12/10 zone.. before the first real attempt at a key floor.
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10.33am.. Oil inventories out... net gains...  oil prices collapsing -3.3%.... sub $60 possible.. at ANY point.

Equities weak... not least energy...