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.
"You are the very cause of your ignorance, yourselves. You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.”
Thomas More, The Sadness of Christ (Gethsemane), Tower of London, 1535