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From VIX exuberance to prudent fear

Exuberant is long gone

The crowd got "hooked" on exuberant VIX during most of 2023. This has now reversed big time, and VIX is showing real fear. Note the "inverted" gap between SPX vs the VIX inv.

Source: Refinitiv

No more VIX chill

Source: Nomura

SPX - the chart that matters

Source: Refinitiv

Shorting mania

Source: GS

Fading tech

Source: GS PB

Risky out of vougue

Source: JPM PI

Reminder: MSI has turned risk positive

Source: Morgan Stanley

The king of signals says buy

Source: BofA

Treasuries inflow mania

Source: BofA

The obesity bull

Source: MS