This is a weird market – and not funny “weird”, It’s like a really impressively tall house of cards with a super-shaky foundation.Traders are clearly bullish about AI (what else is new?), the possibility of rate cuts, and earnings.But we’ve been hitting these all-time highs on the back of some of the most anemic volume I can remember. Well, that’s mostly due to a relative handful of stocks. On the other hand, options volume is far above normal and SKEW is hitting all-time highs – more on that in a second. But the light volume tells me there’s very little conviction out there – no one wants to be the one to dive all the way in. At the same time, the FOMO fever out there is very real. Weird, right?Oh, and the VVIX is starting to wake up for the first time in weeks. We’re at the point where it could go either way – a crossroads – where structural BS could kill the bull… or FOMO could drive us higher and higher.Video Length: 00:20:56More By This Author:
Sector Defections Leave The Markets At A Crossroads
