VIX BREAKOUT ABOVE ITS 3 1/2 mth trend line will inevitable brings S&P500 and FTSE below their 200 pday MAs. Oil breaks below 70, USDCAD hits 1.1390 Cable breaks below $1.6250. All parameters of risk aversion are kicking in. Today's CPI will prove a distraction. Fedex beats estimates but stock is down as it says it cannot give meaningful forecast due to lack of visibility. NZDUSD, AUDUSD, EURUSD targets at 0.6220, 0.7830 and $1.3790.