sp'daily5
VIX'daily3
Summary
US equities opened moderately weak, saw an afternoon low of 2851, and settling just a little weak. Volatility saw a high of 15.44, but melted back lower, settling -1.3% at 14.75.
Where are the shorts now?
After a decade long climb from sp'666 to 2954, it really shouldn't be surprising that short interest is at levels last seen in 2006.
Much like when VIX is in the low teens, there is really only one direction this can go from here.
Yours, awaiting the end of QT, and rate cut'1.
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| Arriving in the land of BREXIT chaos |
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| A good example of a sun dog (there was a corresponding one, off to the left). |
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| A fine summer's evening |
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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