sp'daily5
VIX'daily3
Summary
US equities opened very significantly lower, as the Chinese Yuan crossed above 7.00 to the USD. There is near zero doubt this is direct retaliation to last Thursday's announcement that the US will add an additional 10% tariff.
Trump not surprisingly issued an initial response...
Regardless, the market sure wasn't happy, with price broadly falling into late afternoon. The closing hour saw a spike from 2822 to 2852, and whilst Tuesday offers further bounce upside, an eventual test of the 200dma - currently at 2790, appears extremely likely.
Volatility naturally soared, with the VIX settling +39.6% to 24.59.
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Goodnight from London
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