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– Mag 7 leadership role diminished this week
– Financials continue to hold SP500 together
– FED Fund Futures are ludicrous
– positioning in a one-sided market (JPM, BA, IBM)
– heavy skew, huge volatility contango
– markets don’t trust the future?
SPX Expected Move –
-last week – 46.29 (5-day expected move)
-next week – 57.36 (5-day expected move)
