Market Regime Summary Tue 2026-04-21
For educational purposes only. These are NOT stock or investment recommendations. See this disclaimer.
Day-over-day shift vs 4/20: Structurally still bullish, but three things deteriorated — VVIX punched through 100 (from 98.15), breadth slipped below HEALTHY (61.23 → 58.25), and the Iran peace-talk breakdown re-ignited the oil premium. Net: tighten from yesterday's 0.75%/4-spread posture to 0.6%/3-spread with faster profit-taking. VIX term structure flipped back to CONTANGO (minor positive), but VVIX is the bigger tell.
