EMOTION MOVING MARKETS NOW: 11/100 EXTREME FEAR PREVIOUS CLOSE: 12/100 EXTREME FEAR ONE WEEK AGO: 5/100 EXTREME FEAR ONE MONTH AGO: 21/100 EXTREME FEAR ONE YEAR AGO: 33/100 FEAR Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 22.79% 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: FEAR The CBOE Volatility Index (VIX) is at 28.99, 77.76% 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 – I JUST LOVE MY NEW SWEATER UNUSUAL ACTIVITY WLL vol pop to highs Activity in the SEP 17 CALLS 1800+ @$1.30 LL Jan 15 PUT Activity 10k @$3.30 on offer SSTK SEP 35 CALLS 1300+ @$.75 ON offer TCK Nov 9 CALL Activity @$.25 right by offer 5000 Contracts RE Director Purchase 5,000 @$169.5 Purchase 5,000 @$170.00 More Unusual Activity… HEADLINES Fed VC Fischer: Still too early to tell if September hike will happen Fed Kocherlakota: 2015 rate rise not appropriate, open to more stimulus Fed Mester: US economy can support rate increase Fed Bullard: Rate hike would signal confidence, unfazed by mkt turmoil Fed's Lockhart: Market vols makes him less certain on Sept hike Atlanta Fed GDPNow tracker updated to 1.2% (prev. 1.4%) US Personal Income (MoM) Jul: 0.40% (est 0.40%; prev 0.40%) US Personal Spending (MoM) Jul: 0.30% (est 0.40%; rev prev 0.30%) US PCE Core (YoY) Jul: 1.20% (est 1.30%; prev 1.30%) German CPI YoY (Aug P): 0.2% (est 0.10%, prev 0.20%) German CPI MoM (Aug P): 0% (est -0.10%, prev 0.20%) SNB Jordan: Swiss franc significantly overvalued, ready to intervene GOVERNMENTS/CENTRAL BANKS Fed VC Fischer: Still too early to tell if September hike will happen --CNBC Fed Kocherlakota: 2015 rate rise not appropriate, open to more stimulus --CNBC Kocherlakota would prefer a hike in second half of 2016 --FBN Fed Mester: US economy can support rate increase --WSJ Fed Bullard: US rate hike would signal confidence --FT Fed Bullard unfazed by market turmoil --Rtrs Fed's Lockhart: Market vols makes him less certain on Sept hike, though every meeting is live --MNI Atlanta Fed GDPNow tracker updated to 1.2% (prev. 1.4%) SNB Jordan: Swiss franc significantly overvalued SNB Jordan: SNB stands ready to intervene Japan EcoMin Amari: Canada elections, US primaries, may affect momentum on TPP talks --Kyodo Greece's Syriza to win election but face setback, polls show --Rtrs GEOPOLITICS Merkel, Hollande, Putin plan weekend call on Ukraine --BBG FIXED INCOME BONDS COMMENT: Reflation threat to bonds as money supply catches fire in Europe --Telegraph Two departures in Swiss debt capital markets --IFR Merck jumps in first with jumbo M&A trade --IFR COMMENT: Treasury Market Is Offering Stock Picks: AT&T, Verizon Are a Buy --WSJ FX USD: Dollar on track to finish turbulent week higher against euro, yen --MW CAD: USDCAD retreats from as oil jumps to $45 --FXStreet GBP: Pound falls vs euro as UK growth slows in Q2 --BBG CNY COMMENT: China's ongoing FX trilemma and its possible consequences --Alphaville AUD: Aussie lifted by commodities --Australian NZD: Kiwi heading for 3.1pc weekly drop after China slump --NZH ENERGY/COMMODITIES CRUDE: WTI futures settle 6.25% higher at $45.22 per barrel --Livesquawk CRUDE: Brent futures setlle 5.25% higher at $50.05 per barrel --Livesquawk CRUDE: Arab Opec producers brace for oil-price weakness for rest of 2015 --Rtrs CRUDE: Crude short squeezed --Forex.com METALS: Gold sets up for first gain in five sessions --MW EQUITIES FLOW: US funds cut recommended global equity exposure again --Rtrs M&A: Mylan shareholders back Perrigo takeover, tender offer up next --Rrts BANKS: BofA shareholders should vote to separate the CEO and chairman roles --BBG GAMING: Battle for Bwin reflects rising stakes --FT TRADING: Charles Schwab trading system issue resolved --FT TECH: Facebook must obey German law even if free speech curtailed --Rtrs EMERGING MARKETS CHINA: Citi: China Will Respond Too Late to Avoid Recession --BBG CHINA: POLL: PBOC to cut rates again by end of Dec --ForexLive CHINA: PBOC Conducted CNY60 Bln 7-Day SLO Op. At 2.35% Today --BBG BRAZIL: Brazil economy dips more than expected --FT S&P affirms Ukraine CC, outlook still negative --Livesquawk