It Could Get Worse Before It Gets Better ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Hey there, Markets Descend Into the Eye of the Volatility Storm
By Don Kaufman
China just punched back, and for stocks it was a body blow. We’re closing out an absolutely epic trading day - trading week, in fact. In the chart I’m going to show you in a second, you can see U.S. stocks plummeting right into the storm. I’m talking about the second straight day of powerful, highly correlated selling. We saw the SPX move three standard deviations, a three-sigma move, and the VIX topped 45. That’s its highest level in nearly five years - since COVID. But there’s a lot about today’s market action that was totally unique - things we’ve never seen before. For one thing, I’m looking at some heavy redemption selling - investors selling back to management, rather than out on the open market - that could bring a stiff hangover even looking out to Monday morning. A two-day hangover… We’ve got to be prepared for what’s coming next, and I’ve got a good handle on what that’ll be…
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