The slowly accelerating melt-up in stocks (amid earnings meeting massively lowered expectations, China's economy slumping, and US macro data hitting new multi-year lows) is aided and abetted by a collapse in VIX. Dow is above 18,000; S&P above 2,100, and Nasdaq above 5,000 - so everything is awesome. Trading volume remains well below a trending-lower average...
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