Equities caught a stronger than expected bounce, with the SPX battling to 2938 in the closing hour, and settling at 2937. Volatility was naturally ground lower, with the VIX settling -11.8% at 17.33.
More broadly though, we're still stuck within the sp'2940/2820s. The bigger weekly and monthly charts are subtly leaning on a downward break.
We've a lot of econ-data across the remaining two trading days of the week. Further, it will only take one or two pieces of 'spooky news', or an adverse Presidential tweet, to send the SPX back under the 2900 threshold. Further upside in Gold and Silver is indirectly suggestive that things 'aren't healthy' with the US/global capital markets.
|Autumn is near|
|Next full moon Sept'14th.|
Extra charts in AH (usually around 5pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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