Boy, I’ve got to tell you, Wednesday is shaping up to be an absolute train wreck for FANG, for the Nasdaq, and for everyone’s favorite crowded trades more generally.
Specifically, the Nasdaq 100 is having its worst day since August 17, when rumors that Gary Cohn was set to resign following Trump’s Charlottesville presser sent risk assets into a tailspin:
That of course means the Nasdaq VIX is spiking – and “big league”:
Well given that, it should come as no surprise that the VXN / VIX ratio is spiking the most since Goldman’s infamous early June FAAMG note:
Remember this from June 9?…
The FANG index is having its worst day in nearly two years:
Oh, and this is shaping up to be the worst day for big tech relative to the broader market since the same Goldman note mentioned above:
So yeah, it’s a bad day for “the future.”
