TRANSCRIPT

VIXY fell -0.71% (31st percentile) while IWM rose +0.43% (67th percentile), a divergence so bizarre it practically deserves its own reality show. The anchor here is trying to explain away the fact that SPY only edged up +0.12% after QQQ fell at the open, -0.27% vs prior close, because in this alternate some number reality, data simply ceases to exist. Meanwhile, the 10-year Treasury yield fell -5 basis points to 4.96%, which Margo Kessler would claim means nothing if she could find another way to scream about a void of nothingness. We also have the Registry Chain Head: nine one four nine alpha delta nine six foxtrot zero delta bravo. And just in case you missed the political garbage bags on the White House lawn, remember that "Only Trump" is currently the highest trending topic. The pundits are ready to tear each other apart over these midday metrics, but until IWM stops rising at the open while bonds sell off, we're stuck in a glorious void of confusion. Let's see if the afternoon can salvage this session or if it ends in total market absurdity.