The prop job continues, with VIX reaching a lower low and the DXY still under pressure.

continued for members…

The equity picture is essentially unchanged, with new cycle lows still expected by June 20-22. The biggest question is whether or not SPX/ES will tag/reverse at their .618 retracements. SPY already has.

VIX remains in control. Currencies are still marginally benefiting equities, with USDJPY boosting NKD to its 2.24 Fib extension.

Oil and gas are still hanging on, but the next leg should still be down.

Bond yields have stabilized after yesterday’s significant dip.