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.
"Before the ’70s, Democrats were suspicious of big business. They used anti-monopoly policies to fight oligarchy and financial manipulation. Bill Clinton’s generation, however, believed that concentration of financial power could be virtuous, as long as that power was in the hands of experts. They largely dismissed the white working class as a bastion of reactionary racism. Obama bought into this ideology and has governed with commercial policies that ravaged the heartland." Matt Stoller, 2017