It seems like every trader is perched on the edge of their seat expecting a massive September correction.
In fact, virtually nothing has happened for equity indices over an entire month and markets have become so quiet that volatility’s favored measure, the VIX, consistently made fresh yearly lows all through August.
The worrisome seasonal pattern may turn out to be subdued this September, because volatility tends to cluster and low volatility begets low volatility.
We clearly are in a Quiet Bull Market.
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