The Dow has tumbled back below 26,000 and all major US equity markets are stumbling notably after their exuberant open as VIX extends its pre-market ramp above 11 to its highest in 5 weeks…
VIX topped 11…
And US equity futures are quickly giving back the long-weekend’s gains…
Notably, Morgan Stanley points oiut that over the last two weeks investors have bought the 2nd largest amount of S&P 500 futures (as measured by MS Trade Pressure) since at least 2010, while at the same time net holdings of S&P 500 calls are the highest and the net holdings of S&P 500 puts are the lowest since at least 2010
