The market is acting calm. VIX seasonality says it may not stay that way for long.
Directionless ViolenceThe market keeps delivering huge moves, yet ends up in the same place. NASDAQ is back at major resistance, technology volatility is screaming for attention, and VIX is approaching levels that have historically offered attractive hedge entry points. Direction remains elusive, but owning some volatility is becoming easier to justify.Range mania
Markets are behaving as if volatility has been abolished. Meanwhile, bond vol is exploding, implied correlations remain…
Have you seen the VXN/VIX chart?
NDX at resistance. VXN screaming. Korea levered to the eyeballs. Retail absent. Oil pricing peace. Plenty of movement. Plenty of…
The market isn't panicking lower. It's panicking both ways. Negative gamma, leveraged ETF exposure and growing uncertainty…
The Nasdaq 100 posted five consecutive 1%+ daily moves while the VXN volatility index surged 49% to its highest level since April…
The scary part isn't volatility. It's how little it takes to create it. Markets increasingly resemble a giant short-gamma…
