One of the crazier charts out there. Market structure increasingly important in the short term!

"About 75% of deleveraging in leveraged ETF positions appeared to be done, JPM said.  "The AUM of levered ETFs has dropped by over $100bn... and of that $100bn, $63bn AUM has come out of semis. To contextualize that, 39% of levered semi ETF aum has been reduced."