With a break into the sp'2080s - and with VIX 14s, there is increasing clarity that the market will see broad cooling into end month. The gap zone of 2065/61 looks set to be hit tomorrow, or more viable... early Monday. The more interesting issue is whether the monthly close will be in the 2050s.. or even lower.
sp'60min
VIX'60min
Summary
Well, not much to add. In scheme of things these are still small moves... but today does make for a good reversal.. esp' for metals and oil.
notable weakness: FCX -5.5%.... even moderate market declines will see this 'junk' get trashed.
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back at the close
