The most hated rally. ( PART1)
Why traders feel they can't get anything right...

The latest market melt up caught many institutions and professional money managers by surprise.

This is because they've largely been focused on bleak fundamentals and central bank rate hikes.


And so, as stocks have been rallying these past 3 weeks, with SPX up 13%, it's caused a lot of consternation.

JP Morgan's trading desk is quoted as saying: "Frustration everywhere, traders feel like they can't get anything right!"

Nothing seems to be making sense.

And for good reason...

1. Equity is pumping as if it's back to a bull run

2. VIX as proxy for volatility is spiking like stocks are ready to crash

3. Oil prices are back down to under $90/bbl like inflation is gone

4. Gold has been booming like inflation is raging at +15%

5. Housing looks ready to crash with mortgage applications at a 20 year low.

How is this adding up?