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The S&P 500 has bounced quite strongly off 2070, which largely corresponds to the mid-point of its trading over the past three months. While markets have begun to increasingly position for the 'Remain' camp to win the EU referendum vote in the UK, there is still a lot of uncertainty over how markets will ultimately react once the official result is released.
VIX continues to hover at elevated levels, while the market internals continue to show sentiment in the index has held up despite the recent pullback.