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SPX stuck in a snooze

Before you get too excited

SPX has basically traded in the 4520/4580 range since mid November. Long gamma dealers have been "choking on theta" for the past weeks.

Source: Refinitiv

Hold your bullish horses...

This is new

Source: Refinitiv

Nothing is impossible?

Source: Refinitiv

Bulls vs bears - extreme edition

Source: Refinitiv

Rotation into secular growth

Source: GS trading desk

Bond mania

Source: Refinitiv

What's the dollar trend?

Source: Refinitiv

VVIX squeezing

Source: Refinitiv

BofA sees 3 main reasons for volatilities moving higher in 2024