MBCC TH 7th June'23 - "Volatility gets crushed as S&P 500 is pinned between the have and the have nots, what can change this?"

(Chart courtesy of SuburbanDrone on twitter)

So $VIX makes a new low around $16 at the spot level. Why is it getting hammered every day? The market is pinned to 4250 as the 7 names (haves) are being chased at the expense of the entire index (have nots), hence it is flat. Do not mistake this “calmness” for bullishness or that we have past the storm. A flat index does not mean the Fed has magically solved all the problems.

What can change this? What is the next trigger?

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