While we’re reasonably sure the dip buyers will show up at some point (God bless ’em), they better get on the job fast or they’re going to have a lot of work to do.
Because the VIX briefly hit a 16-handle (it’s reversed a bit) and it’s not going to take much of a risk-off move (one Trump tweet about Thomas Jefferson and the slaves would probably do it) to push it back to the highs reached after Trump’s Pulp Fiction–esque “fire and fury” moment:
Meanwhile, as noted earlier, gold is back above $1,300 for the first time since the yellow metal’s biggest fan in the universe was elected:
And as for USDJPY, well it’s now below post-“fire and fury” lows:
There’s work to be done here E*Traders.
Get on it.