EMOTION MOVING MARKETS NOW: 11/100 EXTREME FEAR PREVIOUS CLOSE: 11/100 EXTREME FEAR ONE WEEK AGO: 9/100 EXTREME FEAR ONE MONTH AGO: 25/100 EXTREME FEAR ONE YEAR AGO: 37/100 FEAR Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 25.60% as investors make bullish bets in their portfolios. However, this is still among the highest levels of put buying seen during the last two years, indicating extreme fear on the part of investors.Market Volatility: EXTREME FEAR The CBOE Volatility Index (VIX) is at 19.14, 34.83% above its 50-day moving average and indicates that investors are concerned about the near-term values of their portfolios. Stock Price Strength: EXTREME FEAR The number of stocks hitting 52-week lows is slightly greater than the number hitting highs and is at the lower end of its range, indicating extreme fear. PIVOT POINTS EURUSD | GBPUSD | USDJPY | USDCAD | AUDUSD | EURJPY | EURCHF | EURGBP| GBPJPY | NZDUSD | USDCHF | EURAUD | AUDJPY S&P 500 (ES) | NASDAQ 100 (NQ) | DOW 30 (YM) | RUSSELL 2000 (TF) | Euro (6E) |Pound (6B) EUROSTOXX 50 (FESX) | DAX 30 (FDAX) | BOBL (FGBM) | SCHATZ (FGBS) | BUND (FGBL) CRUDE OIL (CL) | GOLD (GC) MEME OF THE DAY – IT’S THE JERKS UNUSUAL ACTIVITY IDTI Vol weakness SEP 19 PUT ACTIVITY @$1.25 on offer 4500+ Contracts SLB SEP 80 PUT ACTIVITY @$1.31 on offer 4000+ Contracts PYPL SEP WEEKLY4 PUTS on the BID @$1.35 3700 Contracts SPLS DEC 15 CALLS on the OFFER @$.90-.95 6000 Contracts SEMI - CEO Purchased $300k+ total AVHI Director Purchase 1,920 @$ 13.9989 Purchase 1,280 @$13.99 More Unusual Activity… HEADLINES Greek PM Tsipras resigns, calls snap elections US Philly Fed Business Index (Aug): 8.3 (est 6.5; prev 5.7) US Existing Home Sales (MoM) (Jul): 2.0%% (est -1.20%; prev rev 3.0%) US Leading Index (MoM) (Jul): -0.2% (est 0.20%; prev 0.60%) US Initial Jobless Claims Aug-15: 277K (est 271K; rev prev 273K) US Continuing Claims Aug-08: 2254K (est 2265K; rev prev 2278K) US EIA Natural Gas Storage Change (Aug): 53 (est 59; prev 65) US Commercial Paper Outstanding (SA) (19 Aug): -$1.8bn CA Wholesale Trade Sales (MoM) Jun: 1.30% (est 0.90%; rev prev -0.90%) ECB Nowotny: No signals for early QE end, dismisses idea of FX wars Bank Of Spain bends ECB rules to favour own banks --HB SNB's Jordan: SNB prepared to intervene in CHF if necessary M&A: Visa In $21bn Bid To Merge US, European Units M&A: Valeant pays $1bn for women's libido drug Fitch: China's capital injections support policy banks, economy GOVERNMENTS/CENTRAL BANKS US Commercial Paper Outstanding (SA) (19 Aug): -$1.8bn Allianz's El-Erian: Fed missed earlier chance to hike rates --Rtrs Liberty St Econ: The Evolution of Workups in UST Securities Market ECB's Nowotny: There is no signal for early end to QE --FXStreet ECB's Nowotny dismisses 'currency wars' talk --Rtrs ECB: E155m Borrowed Using Overnight Loan Facility, E157bn Deposited --Livesquawk ECB: EZ Excess Liquidity Fell To E471.705bn From E472.92bn Bank Of Spain bends ECB rules to favour own banks --Handelsblatt SNB's Jordan: SNB prepared to intervene in CHF if necessary --FoerxLive France's Hollande: Tax cuts will come with higher growth next year --Rtrs GREECE Greek PM Tsipras to resign, calls nsap elections --Tele https://twitter.com/ecb/status/634391158735654912!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); EC signs 3yr ESM stability support programme for Greece --EC Greece Authorizes $3.6B Payment on ECB-Held Bonds --BBG GEOPOLITICS North And South Korea 'Trade Artillery Fire' --Rtrs UK to reopen Tehran embassy --Sky FIXED INCOME UST to auction $26bn 2s, $35bn 5s, $29bn 7sm $13bn 2y FRN --Livesquawk Bankrate: US Mortgage Rates Rise, Boosted By Improved Housing Market --Bankrate Apple releases Kangaroo guidance --IFR FX USD: Dollar slips as Fed rate hike hopes recede --Rtrs EUR: Euro rises to 7-week peak against dollar --FT CHF: SNB's Jordan: SNB prepared to intervene in CHF if necessary --FoerxLive CHF: Swiss EconMin: CHF Should Move Towards 1.22 Vs Euro, Hopes Will Weaken Towards 1.10 CNY: IMF decision rattles China's yuan --WSJ CNY: ECB Nowotny: Yuan Drop Sign of Slowing Growth, Not FX War EMFX: EM currency turmoil escalates --FT ENERGY/COMMODITIES CRUDE: WTI futures settle 0.8% higher at $41.14 per barrel --Livesquawk CRUDE: Brent futures settle down 1.2% at $46.62 per barrel --Livesquawk CRUDE: US EIA Natural Gas Storage Change (Aug): 53 (est 59; prev 65) CRUDE: Rigzone: Some offshore rigs being bid at break even rates --BBG CRUDE: Mexico hedges 2016 oil exports at $49 a barrel --FT WEATHER: Hurricane Danny named as first major storm of Atlantic season --Guardian METALS: Gold breaks above $1150; highest since July 15 --CNBC EQUITIES M&A: Visa In $21bn Bid To Merge US, European Units --Sky M&A: Valeant pays $1bn for women's libido drug --FT M&A: Zurich Insurance drafts Evercore in RSA pursuit --FT M&A: United Tech in talks to buy Nortek --WSJ TRADING: FTSE 100 falls into correction territory --FT TECH: Twitter falls below IPO price --BI TECH: Gartner: Worldwide Smartphone Sales Recorded Slowest Growth Rate Since 2013 BANKS: FDIC sues Citigroup, 2 other banks over soured mortgages --Rtrs UTILITIES: RWE To Replace Head Of British Unit --Rtrs MEDIA: Netflix slumps amid broad media selloff --MW EARNINGS: Sears reports first quarterly profit since 2012, sales still tumble -Rtrs REGULATION: US senators urge recall of all autos with Takata airbags --BI COMMODS: Moody's downgrades ConocoPhillips' unsecured ratings to A2, stable outlook EMERGING MARKETS Fitch: China's Capital Injections Boost Support For Policy Banks, Economy El-Erian: Seeing a classical overshoot, starting in emerging markets --CNBC