Don Kaufman here. 

I'm watching Google claw its way up 6% this today while the advance-decline line is absolutely getting crushed. 

You've got 90 products trading to the downside, but because Google, Tesla, and Broadcom are having a party, everyone thinks we're in some kind of bull market.

This is not a bullish day. This is not a nice little bounce over here.

The New Market Reality

Here's what's actually happening that nobody wants to talk about. 

The market has become a battle of market cap, pure and simple. 

The biggest and baddest market caps are propping everything up while the rest of the market gets slaughtered.

It's tech versus the world right now. Google's at highs and we're still slipping. The financials are down a full percent. Energy sector's getting hammered. But because a few mega-caps are flying, volatility is actually dropping.

That's not normal market behavior. That's something else entirely.

Let me explain what's really going on behind the curtain.