sp'daily5
VIX'daily3
Summary
Wednesday saw yet another late afternoon rollover - from key price threshold of 2937. Some weakness was expected, but it was a little surprising to see the market bears manage to break under the 2900 threshold, and keep grinding equities lower into the afternoon.
Today saw the US 10yr >3.20%, and that was indeed excuse for the algo-bots to mark prices lower.
Volatility naturally jumped, with the VIX seeing the upper 15s, the highest volatility since August 15th. We've a new downside gap in the 12/11s, and that is clearly going to be retraced back pretty soon.
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| Rare sunshine for the equity bears |
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Goodnight from London
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