Only a few days away from a possible Gov Shutdown, and markets are still irrational. The ridiculous ramp we saw in S&P Futures (ES) and in the broader market has been faded, with the market closing in the red, with the DOW making new lows into the cash close. ES is down -.70 handles at 1692 even, with 1.495MM minis traded, after being higher by over 13 handles from session low to high. Session high came in at 1701 even, and a low of 1687.50. Bonds ended higher, with the 10Y Yield dropping to 2.6%.
VIX closed over 14, at 14.08 (-1.61%). VIX Futures down, with the October future at 15.05. Volume in VIX picked up, but still low. We saw heavy selling of puts today.
VIX TERM STRUCTURE (vixcentral.com)
USDJPY 98.7500 EURUSD 1.3468