The VIX was ripping today, and lots of puts were being bought. Treasuries were lower, though, and stocks refused to sell-off.
We have a very interesting setup headed into next week. The logical thing to expect is some giveback. However, as has been the theme of my blogs the past few days, the issue of how obvious is too obvious is also present.
I will have a much greater in-depth look at the market in my Weekly Strategy Session – Check it out!
Have a great weekend.