sp'daily5
VIX'daily3
Summary
Pre-market futures were a little higher, but then the market became very upset with another wave lower in bond yields.
Trump resumed the anti-fed rhetoric...
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| Start reading from the bottom tweet! |
It has become something of a broken record, as Trump again demanded for QT to end 'NOW'... which did actually end a week ago. Regardless, it should be clear, Trump will raise the pressure on Powell to step down, and be replaced with the Bullard.
Volatility opened moderately higher to 23.67, but then slipped into cooling mode, settling -3.4% to 19.49. S/t price structure is a bear flag in equities, with a mirror bull flag in the VIX. Minimum downside target remains the 200dma at sp'2791, with secondary of legacy gap of 2762/44, and most bearish case of the 2730/20s.
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| Full moon is Thurs' Aug'15th. |
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Goodnight from London
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