Futures are off moderately after yesterday’s volatile session that saw stocks slide over 1% at one point. All eyes remain fixed on Jerome Powell’s speech in Jackson Hole tomorrow, especially as Trump amps up his efforts to take control of the Fed.
continued for members…
The SMA50 is the next line of defense once the SMA20 breaks down.
VIX’s SMA50 was tested yesterday, and is the only thing standing between current levels and the SMA200 at 19.16. VX tested its SMA200 (19.17) yesterday and is likely to test it again either today or tomorrow, with a TL of resistance sitting at at 19.62 that dates back to April.
Currencies and oil/gas remain subdued…
…which means that the 10Y remains stuck around 4.3%. 
