Wall Street calm looks fake as UVXY plunges 22%, UVIX crashes 29%, and fear gauges echo pre snap moments from 2017 and 1993.
This is one of those quiet setups that looks boring right before it bites. Vol is getting crushed even though stocks are barely moving, which tells you complacency is doing the heavy lifting. When UVXY and UVIX bleed this hard without a real rally, it usually means traders are leaning the same way. That works …