Speaker A saw the Nasdaq close in correction yesterday. Uh futures lower today. Uh we sat here on Monday talking about how the S&P 500 had taken out its 200-day moving average last Friday. We’re now below that again. I’m very hot right now on this idea that price leads narrative. And I think we can go through every detail of like the latest back and forth on the Iran war, but something that we haven’t talked about at all, I don’t think in the whole month we’ve been doing this, is the VIX. And that’s a very like, you know, in the weeds kind of market indicator. It’s essentially um an indication of how volatile the market, how how volatile traders expect the market to be going forward. Right. And the VIX right now is around 28. It had been in the mid teens ahead of this conflict, but if you kind of go back over six months and especially the last month now, kind of just grinding higher, floating higher. And to me, it’s just is starting to look like this is a very different overall market regime and that it’s not going to be saved by a headline. And 2022 is starting to feel very analogous to me, feeling like a parallel. You have a number of different factors that appear disconnected and may actually be disconnected. But when you bring it back to the stock market and on the margins, why am I excited about something? Why am I coming in to be a buyer, to get bullish, to not choose this moment to kind of soften those, you know, create padding around my portfolio, whether that means selling stuff, yada yada yada. It just it just doesn’t look good right now. We’re squaring up the end of the first quarter and there’s just not a lot of things right now that feel like they’re ready to reverse.
