12pm update - declines, but only moderate

Despite breaking again into the sp'1940s, US equities are only moderately lower. VIX is seemingly unable to break above the earlier high of 16.78. Metals are holding minor gains, Gold +$3. Oil has turned significantly lower, -1.0%


spdaily5

vix'60min

Summary

It is notable that despite a crate of bad news this morning - not least the IMF growth downgrade, the market is holding up relatively well.

Overall, it remains... messy.

Notable strength, oil/gas drillers, building gains, RIG +4%, SDRL +4.9%

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VIX update from Mr T.


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time for tea............ back at 2pm.