Don Kaufman breaks down why Friday's 100-point S&P rally was basically "massively unchanged" for the week—and why that should terrify you.
The market might be flirting with all-time highs, but Don spotted something that has him buying volatility heading into next week: Meta got "the living crap kicked out of it" this week The NASDAQ finished LOWER despite the Jackson Hole pop VIX collapsed to 14—the lowest levels of 2025 in late August The S&P is trapped in a 200-point "volatility box" for almost 2 months But here's the kicker: NVIDIA earnings hit Wednesday with only a $13 expected move priced in. Don calls this "the one catalyst that could rock them all."