$spy pushing into its previous gap from mid-september.
DVOL at 64%, high relative volume over the last month post tech earnings, $vix is hanging out around 20 still.
people have moved into cash ahead of midterms. it looks like we'll get a flush before then, maybe black monday comes since markets don't bottom on Friday's (100x times the charm?)
Continued historic flows into cash.
Yes, you can finally get something for cash, but this feels extreme.
Past surges have been opportunities. Is this time different?
Nice one from @MacroCharts in his must read report today.