Don Kaufman here. 

In 20+ years of trading, I've never seen volatility futures invert this close to market peaks. 

Here's why that should terrify you.

The S&P 500 closed at 6,616 yesterday. All-time high? 6,764.

We're 2% off all-time highs with volatility futures in full backwardation.

It's literally never happened before.

What Nobody's Telling You About Volatility Inversion

When volatility futures invert, the market is saying the next 30 days are more dangerous than the next 60 days. Think about that logically - when is a shorter time period MORE risky than a longer one?

When something really bad is about to happen soon.

We hit this inversion yesterday while I was running my volatility mastermind. We're now 55-60 cents deep into backwardation. The VIX spiked to 29.

This condition didn't exist in 2008, COVID, or the 2018 VIX explosion. All those crashes happened AFTER markets had already tanked 10-20%.

We're pricing apocalypse from the mountaintop.