You could see this coming a mile away
There's something strange about stress. Even when you know it's coming, you can never anticipate how it feels.
Covid cases rising is not a surprise today, it's been building for weeks. Uncertainty about the US election has been building for even longer.
There's nothing new today but something about the approaching deadlines and winter has people scared. All the traders and investors who thought they had strong hands are cashing out.
Maybe the sidelines for the next two weeks isn't such a bad place to be? As I often say, 'there's always another trade'.
That's a theme I've been repeating for a month. I thought it would manifest itself a bit earlier -- especially as the stimulus charade fell apart -- but it's arriving now.
There's no knowing how this turns out but looking at the next 5 days, I can say with some certainty that whatever jitters the market is feeling today aren't going away before Nov 3.
VIX:
