What an absolute joke of a week, as we ramped over 59 handles off the 1640 low, to close today on the high print of 1699.50, on nothing but “Hope” that they will come to terms, when clearly there has been no progress whatsoever. S&P Futures (ES) are up 14.50 handles at 1699.50 with 1.54MM minis traded. Session low came in at 1673 overnight, and session high after the cash close at 1699.50. 10 Year Yield is at 2.68%. Gold was slammed this morning, briefly being halted. Gold is down -26 at 1270/oz.
VIX pushed lower yet again, closing down -4.61% at 15.72. That is now a 25% drop in three days. VIX premiums pushed lower, taking out contract low prices in some contracts. October premiums dropped further, as expiration is now only 3 days away. Next week should be very interesting, as Thursday is the deadline for them to come to terms, and they have gotten nowhere so far.
GOLD FUTURES SLAM AND HALT (Chart from NANEX)
ES AT CASH CLOSE
ES Full Day
VIX TERM STRUCTURE (vixcentral.com)