Every year in markets there's calls of new ATHs or market...

Every year in markets there's calls of new ATHs or market crashes.

Plenty of times there's neither.

However markets have been sailing a little too smoothly for the macro backdrop so you'd think a decent pullback is overdue.

Have mentioned VIX a few times lately.

It's been heavily suppressed and has finally broken out, so if that follows through then expect things to get a little wild as there's a lot of stored energy there...