Monday, May 23, 2016


Today's 50% volume volatility compression ended at the lows of the day, albeit within a very narrow range...

ZH: May 23, 2016
S&P Futures Net Speculative Longs At 16 Month High

Apple's third rally reversed
Oil (ETF) was rejected at the 200 dma
JPY declined all day
VIX was bid all day
Utilities / defensive stocks lagged
Deutsche Bank to European clients: "Sell"

The rest of the world is RISK OFF, pending Fed rate hike...

The minimum volatility maximum implosion fund closed at its two month support line:

Utilities were weaker

The down trend remained intact

Apple's third key reversal today

Global Dow, not impressed

The Oil ETF observed its 200 day:

In a major divergence, hourly realized volatility was the lowest since last New Year's, however, VIX was bid all day...

The futures downtrend remained intact. Notice the coiled trading range from today and volume lower pane...

JPY will decide how and when this all ends...

The chart of the day of course is this one: