sp'daily5
VIX'daily3
Summary
US equities opened very significantly lower, after Trump announced on Sunday (naturally, via Twitter) increased tariffs on China...
Despite (no doubt) seeing overnight equity futures, Trump continued early Monday...
Equities saw an early low of sp'2898, before battling rather strongly upward. The recovery to mere moderate declines really shouldn't have been a surprise to most.
Volatility naturally soared, with the VIX printing 18.80 - the highest since Jan'30th. With equities recovering though, the VIX cooled, settling + 20.0% at 15.44. The s/t cyclical setup does favour the bulls, and its notable that new historic highs are a mere 22pts to the upside.
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Goodnight from London
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