Market pushes higher, as volatility gets crushed-Is Teflon market back?
Everything is trading in such an orderly way. Slow markets grinding higher on no volume. Nobody really cares about anything, yet. The slow pace of the market action has simply killed vol, and soon we will hear people coming in telling us vol is very expensive at these levels. There is no fear in this market. Have we heard it before? Yes, but is this time different?
It is a very delicate market sitting on resistance levels, but trading with no real conviction. It is beginning to feel, people are joining the latest bull run, without really knowing why. The perfect calm, before the storm? VIX and SPX below.