The VIX has eased off from the peak as expected. It is still above 15.0 so it is still in a high risk zone and the repo rates in emerging markets are still showing trouble ahead. We are waiting for the U.S. jobs number so we will have a better idea of what lies ahead next week.
Below: The S&P500 weekly is resting on the support at the moment so it will be interesting to see if that level holds. The three indicators are in downtrend so the over all trend is still down in spite of any rally that might be showing on the daily chart.
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