As S&P 500 reaching local high, its 6m ATM put options are on 3-year low and cost 3%. Shorting the index is relatively cheap now. This market is high on crack.

by ChampionshipUsed9855

VIX is below 13 again. QQQ has been basically flat for nearly a month.

The FOMC is next week, could be a pivot point.

Even the perma-bull just admitted this market is high on crack:https://t.co/OOk8ZN4gf9
“Buyers have gotten drunk as a proverbial skunk, buying the worst of the worst…there’s a nasty hangover on the way”

Any examples? pic.twitter.com/ZozUACPcfA

— Mac10 (@SuburbanDrone) December 6, 2023

Hedge fund Banks L/S ratio is near 5-year lows.

via Goldman Sachs pic.twitter.com/u6KYhjHmtl

— Daily Chartbook (@dailychartbook) December 6, 2023