US equity indexes are significantly lower, sp -24pts @ 2101. Considering the USD, VIX, and Bonds, it would seem another day of downside is due... with the 50dma (2097) set to fail... offering 2080/75 zone by Thursday morning. Metals remain weak, Gold -$18, whilst Oil is lower by a very significant -3.4%.
*VIX looks set to hit the low 15s... although if sp'2080, that might equate to VIX 16/17s... briefly.
With continued strength in the USD, today has certainly turned out to be a lot more dynamic than expected, with sig' declines across all indexes... and most commodities.
It really is a case of whether the USD cools to 90/89... or just pushes straight up to the 120s.
If there is no cooling to the low 90s across June/July.. then 120s are due by the autumn.. and that would make for a broader market shock.
notable weakness: copper miners, FCX -4.9%, TCK -6.2%...
AAPL -1.9%... with the Nasdaq comp' -1.2% at 5026...