The VIX has plummeted to about 15 and is now just a few percentage points higher to its multi-year low in the low 14.xx while the VXO is in the mid 14.xx and just a few percentage points higher than its multi-year low in the 13.xx.
And the various equity put-call ratios are reverting extremely quickly to their multi-year mean, the short term 5-day one being already at 1 standard deviation from its mean, into the call buying.
These are again showing extreme complacency and bullishness in the face of crumbling economies worldwide, and western countries at the edge of the cliff, close to default.
At the same time, commodities are edging lower, even in the face of a plummeting USD, massively sold during yet another phase of risk-on trade.
Extremely speculative equities are also rebounding massively, as shown by the Russell 2000 just a couple of percentage points lower than its all time high, and LinkedIn up 50% in a few days.
The equities speculation and mania are still going on full steam. This will end in tears. Just look at Silver to see how things can rapidly reverse in a dramatic fashion.