Mike Santoli's market notes: Fast collapse in volatility, no market breakout yet, broader rally

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New for subscribers: Mike Santoli's market notes: Fast collapse in volatility, no market breakout yet, broader rally Check out CNBCPro today.

The "squeeze" here is the sudden, almost forced-seeming rotation out of the "Blue Wave/reflation" positioning and back into a "policy stasis/scarce-growth" posture. Compounded by "grabby" retail-trader buying as the mood swings from FOLO to FOMO.

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