VIX back in the teens

With equity indexes closing significantly lower, the VIX finally managed to break/hold the teens, settling +15.9% @ 14.06. Near term outlook offers the 16/17s if sp'2080/75 zone. Mid term outlook will be dependent upon whether the USD continues to climb... or cools lower to the DXY 90/89s.


VIX'60min

VIX'daily3

Summary

Finally, the VIX is back in the teens.

As ever though, the VIX never stays high for very long, and even the closing hour saw some moderate cooling from the earlier high of 14.63.

Best guess... VIX 16/17s by Thursday.

Unless DXY 98s...  the broader market will be highly vulnerable to resumed upside in June.

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*I have zero interest in being long the VIX whilst most of the broader equity index trends remain outright bullish.
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more later.. on the indexes

Closing Brief

US equity indexes closed significantly weak, sp -21pts @ 2104. The two leaders - Trans/R2K, settled lower by -1.5% and -1.1% respectively. Near term outlook is bearish to the sp'2080/75 zone. The mid term outlook is seemingly dependent upon whether the USD continues to climb... or starts to cool from the DXY 97/98s.


sp'60min

Summary

*a touch of strength in the closing hour, but clearly....  a day for the equity bears.
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A short 4 day trading week has begun with some rather interesting price action across just about all asset classes.

The USD is arguably a key variable here.. and is particularly putting downward pressure on commodities.. with related energy/miner stocks getting whacked lower.
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*I remain short Gold - via GLD, will hold another day, and then look for my next exit. If DXY 98s in the coming days, I'll reshort Gold... for the fourth time in a month.

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the usual bits and pieces across the evening...

3pm update - Transports wrecked

The equity market 'old leader' - Transports, can't stop unravelling.. now -1.6% @ 8342. Next support is not until the psy' level of 8K... which is another 4% lower. USD is set to hold sig' gains of 1.3% in the DXY 97.30s. Metals remain broadly weak, Gold -$16, with Silver -1.9%. Oil is -3.0%


Trans, daily

sp'daily5

Summary

The daily, weekly, and even monthly cycles are starting to look a real problem - for the Transports.
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The sp'500 looks set to lose the 50dma.. with 2080/75 by Thursday.. along with VIX 16/17s.

For me.. it is ALL about the USD... if it doesn't start to cool within days.... a real problem is ahead.
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notable weakness: GDX -3.0%.. as the precious metals look vulnerable into tomorrow.