The stock market is ping-ponging right now, and VIX diverged from the sell off today.
The economic data is very disappointing, and event risk in Europe remains elevated.
Let's see how long this coiling can go on before the markets start to move.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. For the traitor appears not a traitor; he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Marcus Tullius Cicero