S&P Futures (ES) closed lower for the first time in 6 sessions, shedding a joke of 7 handles. ES at cash close is down -7.65 handles at 1741.75 with 1.5MM minis traded. Session high came in overnight at 1749.50, and session low after cash open at 1734.50. VWAP algos took us to the vwap line, and stayed there the entire day. Oil (CL) dropped further to 97/bbl. Bonds popped higher, dropping the yield on the 10Year below 2.5% to 2.48%.
VIX was higher all day, climbing above 14 to touch a high of 14.21, then made session lows into the close. VIX closed at 13.42 (+.68%). VIX Futures relatively unchanged. Slow day overall.
VIX TERM STRUCTURE (vixcentral.com)