After an early day rally that started in Asia and held up until just about 6 or 7 AM ET risk assets have sold off all in one orderly fashion.

There’s not a ton new to add as headline risks remain huge intraday and definitely overnight.

Note the resistance zone on the Russell 2000 chart below.  The S&P 500 still has resistance at 1340 which is also the top of its trading range we so much discussed.

Moreover, u.s. equity indices look the same with resistance now that was former support (see chart).  Not much to do but sit on cash and wait for better risk reward environments.

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