USDJPY versus S&P. Diverging for over two months:
Which portends badly for the "RISK ON" trade...
And remember that massively leveraged mutual fund the unwinding of which was "credited" for last week's melt-up?
Well it had more unwinding to do this week:
Which drove hedging to a multi-year low this week even as Social Mood imploded via the junk stock ratio:
Bond shorts got annihilated on the week:
Nasdaq realized volatility
S&P / VIX ratio (black) line with VIX (red). Volume from VXX ETF:
"What do you mean no bailout?"
Mind the gaps