It was a very choppy day in equity land, with the SPX seeing significant overnight swings, opening positive, but breaking a new cycle low in the mid afternoon of 2825, just 3pts above last week's low. The late afternoon did see a distinct rebound though.
Volatility settled -4.2% at 21.18. S/t outlook favours equity upside to the 2894/2926 gap zone, before resuming lower. Primary target next week is the 200dma around the 2800 threshold, with secondary of the 2730/20s.
|Soft landing into Friday OPEX ?|
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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