The overseas trade moved US indices at the get go, keeping the strong bearish trend trade in tact down to the S&P 500's fifty day moving average. The VIX at one point was plus 25%. Back in the bad/good old days, I'd say afternoon continuation.
Price has certainly had a difficult time making it back to VWAP, but this has been a very big move for the recent environment and I'm thinking that 50-dma will hold for the day. One thing is for certain, the VIX is on a buy on the daily time frame. Fades have to be quick in this increasingly choppy market. [Key Levels]
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