1. Fear and Greed has dropped to 75. Looks rather like it has topped for the time being. The next question being when, and how far it will likely go down. This is interesting because the spike in junk bond spreads has reversed, which was one of the few things holding the fear and greed index down. SP500 down etc.

2. The big memes are flying, because meme investors always seem to be last on board for rallies.

BBBY: +60% , as bankruptcy relentlessly approaches

GME +5%, AMC +7%, TSLA +3% etc.

Lesser memes such as NKLA, CVNA ... -7%.

3. EURUSD continues to weaken. GBP strength - totally baffling, but then, what isn't, nowadays?

4. A comment on natgas. Some may look at NG=F and think 'oh ho! nearing a bargain?'. But consider, there was no warning before oil went to -$40 a couple of years ago. It is not a risk-free trade. Also, the more attractive the trade becomes, you'll probably get things like contango/backwardation messing up your trade unless you get the timing just right. Still, the disparity between euro/US natgas prices is interesting. Still, they call natgas a widowmaker for a reason.

5. TSM, INTC, MU, AMD quite well down, semis moving out of fashion again?

lux