The extremes become ever more extreme.

Jeff Bezos will be launching into space around next week maybe he can take a picture of the Nifty index for us and bring it back.

Nifty managed to close near all-time highs levels which is almost 112% higher from previous years' lows where it currently sustains at around 600 points above the 5MA. The trends are intact on the Nifty and Banknifty. If you look at the INDIAVIX it's actually getting as narrow as it can get reaching out to levels where a pop seems quite possible.

A 20%+ correction would feel like armageddon right now and this market may not correct 20% this year, but frankly, it would be healthy in cleansing out the speculative excess and likely set up for a major buy. But for now, markets can’t even manage a 2% pullback.

There are no bears, only bulls. Who’s gonna cover their shorts and buy stocks during the big volatility event if everybody is already in? An academic question at best at the moment as nobody can even imagine any downside in markets that now print record highs almost every day. I can’t give you a day and time, but I can give you the structures and you can choose to ignore them of course.

What they tell me is this: It’s coming, just a matter of time and perhaps the right trigger, and then downside, currently so elusive, may come faster and deeper than anyone expects.