US equities remain choppy. Price action is arguably just bearish consolidation ahead of another wave lower. VIX is building a floor from around the key 20 threshold.
sp’60min
VIX’60min
Summary
Considering this morning’s style of price action, a new cycle low <4127 appears realistic before the close, with VIX >21. It’d really help if VIX spiked >23.
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notable bond yield proxy: TNX’60min
Yields are a little higher. If the main market gets hit next week, I’d look for yields to cool, with bonds catching a ‘fear bid’… if briefly.
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notable fin: SQ
The horror continues… breaking a new cycle low.
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notable fin: COF
Post earnings jump for Capital One. I’m not a fan.
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notable stock: AAPL
Yesterday’s break <200dma can’t be over-emphasised.
Today’s gains remain… shaky.
Time to catch a sunset…