Market "More Balanced" But "Still Fragile" Warns Top Goldman Trader

The S&P 500 is lower five of the last six weeks, Goldman Sachs Prime Book data shows US equities have now been sold for four straight weeks, nets and grosses are decreasing, hedge funds are actively adding to short products, and asset managers just sold a record amount of S&P futures (not a typo). 

The biggest development over the past two weeks has been the sharp tightening in global financial conditions.