3pm update - this market remains a beast

US equities remain broadly lower, but well above the earlier low of sp'2025. USD is set for a third consecutive daily gain.. as the mainstream continue to believe a rate hike is on the menu at the June FOMC... which will NOT be the case... as a deeply negative BREXIT vote looms.


sp'daily5b

VIX'daily3

Summary

*VIX set for the fifth daily gain of last seven days.
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So.. yes.. many bears spooked by the usual intraday bounces.

Its likely merely a case of whether we close in the sp'2030s.. or 20s. A test of the 200dma looks due tomorrow.. or more viable.. after opex is out of way.

**it is HIGHLY notable that the Trans, R2K, and Nasdaq are already sustainably trading under their respective 200dma.

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As for the beast...



'Sicario' remains one of the most tense and moody movies in recent years. If you've not seen it.... go find it!

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3.24pm... well, I guess you could say we've had our back test of the broken floor of 2039/40.

Oil is no doubt still helping, +0.7% in the $48s.