sp'daily5
VIX'daily3
Summary
US equities opened moderately lower, and for the first time since May 17th, the market slid lower across the day. Even Trump didn't help in the late afternoon, as he complained about himself not making 'strong enough' remarks about North Korea.
With equities significantly lower, market volatility jumped at the open, and climbed across the day, with the VIX settling at the highest level since Nov'8th 2016.
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A special note
For those of you who don't subscribe to me, I wanted to make something clear, as the next post here will not be until after the Friday close.
If we see a Friday close <sp'2425, and with VIX settling in the 14s (>15.20 to be decisive), it would merit alarm bells for next Monday.
If both of those parameters are seen tomorrow - around 3.45pm EST, the cautious bulls will bail into the weekend.
... and the bolder bears will launch 'mini-crash' speculative short positions into the weekend.
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| Sunset, London city, 3.20pm EST |
Extra charts in AH (usually after 7pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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