NQ Strong + Bitcoin

Daily Settles

So we posted a couple of charts earlier and we won’t even bother you with a Nasdaq chart, you know how it looks, straight up of course and today with our settle price of 12,312.50 the Nasdaq is up 40% YTD!

What is strange however, when we look at the settlements below for Monday September 1st you will see something that many feel is odd. That in a year where the Nasdaq is +40%, you also have the VIX +53.1%. The VIX is actually increasing as the equity markets rise.

So what is that telling Magnelibra Econemotions? Well for one thing, you already know by our prior posts that single name fervent call buying is leading to gamma hedging and leading to the market getting increasingly long and options are starting to feel the MOMO pressure. Add to all of this the fact that all the wealth is being so tightly concentrated that for all intents and purposes, just a handful of names constitutes “the market” nowadays.

So toss out all that Finance MBA mumbo jumbo Efficient Market Theory etc. toss o…