sp'daily5
VIX'daily3
Summary
US equities opened fractionally higher, but saw an immediate reversal, with a morning low of 2612. From there, a great deal of chop, leaning upward in the afternoon to 2645, and settling at 2639. Near term outlook offers one final wave lower to around 2604, before whipsawing back upward.
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| Santelli, noting bond yields continue to claw upward |
Volatility was choppy, opening at 18.14, and climbing to 19.84, before cooling into the close. Sustained VIX >20 looks unlikely in the near term.
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