US equities opened moderately weak, once again spooked on trade/tariff concerns. With last week's low of sp'2743 taken out, it was technical open air to prime target of 2718. There was a micro bounce from 2718, but then another wave lower into the mid afternoon to 2698. The break <2700 is highly supportive we'll see secondary target of 2671 hit within days.
Volatility naturally spiked, and exceeded beyond what seemed realistic. The VIX saw an intra high of 19.61, the highest level since April 25th, settling in the mid 17s.
Bonus chart: China, monthly
With four trading days left of the month, the Shanghai comp' is -7.6% at 2859. Real ugly, and next support isn't until the Feb'2016 low of 2638.
|Westworld: 2x10: The Valley Beyond.|
yours, bullish Fidelity
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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