Recursive Buying Turned Selling
See my checklist of risks from:
My call this week was for more chop (doji on a weekly), but I also called for weakness into Oct OpEx Friday.
Yup, that’s in play as selling under the surface surged with VIX to 24 - much more than SPX sold off.
Remember my VIX3M:VIXSPOT ratio I highlighted this morning? It’s not market bullish until back above 1.10 now.