For months, VIX has facilitated higher equity prices – plumbing new lows, breaking down, refusing to rise in cases of obvious market distress. Today, it reached a trend line off the previous highs, all of which corresponded with sizeable bounces in the equity markets. It’s an extremely important test for bulls.

continued for members…

The equity picture:

Aside from VIX, currencies are making some major moves this morning. USDJPY is back to levitating.

But, EURUSD is plunging and breaking down from the falling red channel.This puts DXY almost to our .886 target. Gold and silver are still under considerable pressure.

And, BTC is again trying to hold up.

CL has finally reached the .786 retrace… …while RB is probing new lows. I’m on the road again today, should be back on schedule tomorrow.

GLTA