US equities opened broadly weak, with the mainstream spooked by earnings from CAT and lowered revenue guidance from NVDA. We have a clear double top of sp'2675/72, whilst the Dow broke a marginal new cycle high last Friday. Today counts as day'1 down.
Volatility naturally jumped, with the VIX re-taking the key 20 threshold, but settling +8.3% at 18.87. S/t outlook offers far lower equity levels. Many individual stocks are suggestive of a fast run to the sp'2474/47 gap zone, and that might equate to VIX (briefly) around 30.
|Another plane making an escape from BREXIT chaos.|
|Sunshine for the bears... before the snow :)|
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Goodnight from London
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