The spectacle of automated trading systems bidding technology into a bubble is surely something directly from the script of the forthcoming Terminator 7 sequel. Cross-poted from Zero Hedge:
On Saturday, when we published our lengthy compendium of bizarro market charts showing the paradoxical melt up in both risk assets and the VIX, leading to the most positive correlation between the S&P and the VIX since the Feb 2018 Volmageddon event…
… we said that “one reason why no conventional indicator seem to matter is because it now appears that gamma has become a primary driver in the market’s latest meltup.”