Futures finally dropped through support overnight despite more heroic efforts by VIX.

continued for members…

ES is back below its SMA10 for the first time in a month. Caution is still advised until VIX breaks decisively above its SMA10.Currencies have stepped aside, allowing equities to slide without interference. EURUSD has given up its gains from the past week.While USDJPY has passed on the opportunity to top the red fan line.This leaves DXY backtesting its SMA10. A breakout would be very helpful for equity bears.

BTC is still at a key price level and continues to threaten a breakout.Oil and gas continue to plunge, both testing the lows of the past month and almost certain to make new lows.

Even so, TNX is off only slightly and has support at its SMA200 at 37.06.While the 2Y continues to pull away…

…leaving the 2s10s below -100 bps for the first time since early March.