sp'60min
VIX'60min
Summary
Not much to add.
A lot of chop, and considering the good jobs data, the market is simply unable to muster any sustained buying at these levels.
We're still on track for the 1920/00 zone, but that clearly looks out of range until next Monday.
Indeed, consensus is for a turn early next week.. with first chance of sustained upside.
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2.28pm.. the market is seeing renewed weakness again. A break <1930 looks very viable... and that'll give a fair few of the cheerleaders on mainstream TV a good scare.
After all, the jobs data was okay.. how could the market be falling still ?
A case of 'rats selling into the weekend' looks underway.