Apocalypse Wow

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Over the course of ten trading days, the volatility index has lost a full one-third of its value.

Just about every index is at a new lifetime high, including the largest company in the world, Apple, which has, for the first time, pushed above a trendline that has been in place for years.

The only cautionary note is that, as we pound into the 11-zone on the VIX, this has tended to be the lower bound for bullish bliss and devil-may-care optimism.