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The mainstream narrative today was, “Oh, look – a bounceback rally after a big down day.” But look just a little deeper, pull on the threads, and you find the situation is a lot more alarming than I think a lot of people realize right now.
Apple, for one, did not advance today. Not only that, it breached its expected move in a big way, sinking around 0.59% by the end of the day. Not a good look for the bulls. Nvidia (one of the most dangerous stocks on the market, in my opinion – I’m on the record here) overtook Google to attain the third-largest market cap in Silicon Valley. If it were a world economy, it would fall somewhere between Mexico and Russia.
And if that’s not alarming enough, the good old SKEW index is hitting record highs.
We’re going to read all the tea leaves and get a look at the expected move on the S&P 500 right now in this video…
