Don here...
I just finished our Friday session, and I've got to tell you…something big is shifting right under everyone's nose.
While most traders were celebrating another week of "massively unchanged" action in the S&P, I was watching something that made my skin crawl as a professional trader.
The VVIX just rose from the ashes.
For those who don't know, the VVIX measures volatility in VIX options.
And when professionals start hedging this heavily, they're not just being cautious...They're preparing for something serious.
Here's what caught my attention today:
The S&P dropped 44 handles in the first 30 minutes, then went completely dead for the rest of the session.
Normal Friday action, right? Wrong!
Throughout the entire day, volatility hedges kept getting placed. Not just during the morning selloff.
All…day…long.
That's professionals positioning for trouble while everyone else is looking the other way.
But here's the kicker that has me on high alert:
We're dancing with 6450 on the S&P, the exact make-or-break level I've been pounding the table about for weeks.
We've been locked in a 200-point volatility box from 6250 to 6450 since late June.
Seven weeks. Just 200 points.
And now we're literally flirting with the bottom of that range while Bitcoin is cracking (already down 12% from recent highs) and the Nasdaq has completely stalled out.
The market hit all-time highs yesterday, but it's being carried by financials while tech is starting to roll over. When your "savior" is Jamie Dimon in a lifeboat, I'd rather swim.
The setup reminds me of walking into a party where everyone's whispering.
The smart money is already heading for the exits, and September, historically the most volatile month, just kicked off with a bang.
This isn't doom and gloom…It's preparation.
When correlation finally kicks in and this rotation turns into something bigger, you'll want to know exactly what levels I'm watching.
👉 Click here to watch me break down exactly why this could be the setup that changes everything
Because as we turn the corner into September...
Here comes the volatility.
To your success,
Don Kaufman
Chief Market Strategist, TheoTRADE
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