Goldman, JPM Trading Desks Starting To Freak Out: "Today Felt Different... Sentiment Is Downright Dreadful"

In a market where trader exhaustion is now pervasive and palpable and certainly far greater than the subdued level of the VIX would indicated because, as noted earlier, the gap between the intraday VIX (thanks 0DTE) and the close-to-close VIX has never been greater...

.... Goldman floor trader Mike Washington has spotted something worth highlighting. We present the following excerpt from his afternoon note (full pdf available to pro subscribers):