Good morning. Stock futures are higher. Go figure.
After clinging to support last week into Monthly options expiration, broke through it in the overnight hours to start this week. This morning the downside action has resumed in earnest on the heels of the FED's rate hike, and more 'trade war' talk.
U.S. EXPECTED TO ANNOUNCE IT WILL SUE CHINA AT WTO FOR TRADE LAW VIOLATIONS - WALL STREET JOURNAL
The VIX dropped 25% yesterday. It was a nasty reversal, usually something we are accustomed to seeing right after a VIX spike. Oddly enough the VIX was performing out of the ordinary the last few weeks. The gains were holding. You could even make a case that the 'fear index' was consolidating!