Everyone’s obsessing over the Fed, but the tape is screaming something else: inflation is being re-imported through energy while risk assets party like it’s 2021. Crude’s shock is the real macro headline, and the market’s calm-vol posture is the tell—VIX under 20 with CPI still hot is complacency, not confidence. Meanwhile crypto headlines are back to supply grabs and meme-grade rallies, and big tech strength is doing the heavy lifting for the indices. This is a liquidity-and-narrative market, not a fundamentals market, and #SPX #BTC #VIX are all pricing that disconnect. ⚠️💥




















