As I noted last night, ‘There appears to be some divergence in the relative perceptions of market risk.’
The tide was already receding a bit noticeably as the pros and insiders continued to take measure to lock down their gains.
And so today there was a small break in the market, led downwards by the ‘story stocks’ and megacaps.
The VIX got some legs higher.
But the Dollar, gold and silver all sold off a bit.
This might have been due to some liquidation of assets to meet other demands, like margin calls and gaps in the old account.