sp'daily5
VIX'daily3
Summary
Wednesday evening saw Trump hold another rally...
... talk of 'they broke the deal' gave the algo-bots yet another excuse to whack futures lower. Equities opened broadly weak, and quickly took out the Tuesday low of 2862. Late morning saw a low of 2836, just 2pts shy of fully filling legacy gap of 2848/34. The lunchtime hour saw a powerful swing upward on more Trump trade chatter, with the afternoon seeing the SPX coming close to turning positive.
Volatility broke a high of 23.38, the highest print since Jan'4th, back when Print Central was in the early phase of threatening to end QT. VIX settled -1.5% at 19.10. The s/t cyclical setup favours the bulls for early Friday... when UBER are set to list.
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Goodnight from London
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