US equity indexes closed broadly weak, sp -17pts (0.6%) at 2749. The two leaders - Trans/R2K, settled -0.4% and -1.0% respectively. VIX settled 14.5% at 14.64. Near term outlook offers a bounce to 2779, before resuming lower to technical necessity of 2718 next week.
US equities opened a little weak, and quickly unravelled to a morning floor of sp'2748. From there, upside to 2760, a cooling wave to 2749, and then resuming upward into late afternoon.
Volatility picked up, with the VIX seeing 15.18, the highest level since May 31st. There was some latter day cooling, with the VIX settling in the mid 14s. Near term outlook offers sp'2779, before another rollover. Prime target remains sp'2718, which will likely equate to VIX 16/17s.
Bonus chart: China
It was another rough day for Chinese equities, settling -1.4% at 2875. Its a case of technical open air to the Feb' 2016 low of 2638, and that is another 8.2% lower.
Extra charts in AH (usually around 7pm EDT) @
Goodnight from London
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