No market crash until Jan 2025 guys. This was a clearing of the over leverage to make way for a smooth US election. VIX does not just keep on climbing when it has a vol spike like it did yesterday.
Based on what I now understand the market starts to hedge for further downside from here and the real drop doesn't happen until those hedge expire. This structurally is what creates the divergence in PA and is always 20/20 hindsight but not understood by most including myself in the past.
Will be adding more today. Note index levels could drop another 3-5% from here.
S&P VIX got to 60+ yesterday and now around 30's. We get a few more spikes of lower highs then it'll fade as the hedges roll off.
DYOR.
