12pm update - broadly weak

US equities remain broadly weak, with a new cycle low of sp'2092, along with VIX 13.52. Regardless of the exact weekly close, the trend looks bearish for the first half of next week. sp'2080 looks a given, but if VIX is to fill the gap zone of 15/16s, the 2070/65 zone might well need to be hit.


sp'daily5

VIX'daily3

Summary

So... we've slipped from sp'2132 to 2092.. almost 2%. Clearly, nothing too major, but with a fractional lower high (from 2134, May 20th).. things are getting a little interesting.

All indexes are set for net weekly declines.

Equity bulls had better hold the recent low of sp'2044.. or its a huge problem.
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Notable weakness, energy stocks: CHK -2.4%, RIG/SDRL, both lower by around -3.2%

strength: 3x bearish energy, ERY +3.7%

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VIX update from Mr T.



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time for some tea...as the rains in London are starting to cause some local floods.