US equities are choppy, with a provisional floor from sp’3878. VIX is pushing for the 25s. A weekly settlement above the key 20 threshold will merit attention.
sp’60min
VIX’60min
Summary
We’re s/t cyclically low, and should see a cyclical turn within hours.
Yours truly has no interest in getting involved until the 3960s… as seem realistic Mon/early Tuesday. The cautious will be sitting it out until after Tuesday’s CPI data has been released.
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notable Eurotrash: CS
SVB is a trivial issue… relative to the monster that is Credit Suisse.
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notable bond yield proxy: TNX
Yields plunging… for no particularly good reason.
5.00% appears an eventuality.
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notable strength: JPM
Catching a bounce.
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notable stock: TSLA
A few bold s/t speculative buyers.
time for lunch…