sp'daily5
VIX'daily3
Summary
US equities opened moderately weak, pressured via broad declines in Asian markets, as many are increasingly concerned about the Coronavirus. There was a latter day recovery, as the market burnt off s/t cyclical oversold conditions.
Volatility picked up a little, the VIX spiking to 14.15, but settling +0.5% at 12.98.
Its notable that yesterday's black SPX candle played out. Such candles are never to be dismissed lightly. I will merely add, even an (eventual) washout to sp'3K will do nothing to dent the mid/long term trend. Ohh, and such a washout would see Print Central cut rates, something that would please a great many, not least the US President.
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Goodnight from London
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