Michael Burry says an unusually long stretch without broad-based stock selling is a warning sign, not a comfort. He points to data showing Wednesday marked the 182nd straight session without heavy NYSE selling volume — the longest such streak in at least three decades.
Michael Burry is calling out a streak of calm beneath the stock market as another reason to stay cautious. The investor known for "The Big Short" flagged research from BTIG technical strategist Jonathan Krinsky showing Wednesday marked the 182nd consecutive trading session without at least 80% of New York Stock Exchange volume declining. According to Krinsky, that is the longest such streak in at least three decades — by nearly 50 trading days.
A streak with no recent precedent
Krinsky noted that if the market makes it through the end of 2026 without an 80%-plus downside-volume session, it would mark the first calendar year in at least 30 years without such an event. Every year over that span has recorded at least five such sessions, according to the BTIG strategist.
He raised the data in a Substack post published Wednesday, saying the technical factor alone is easy to dismiss. However, he has been writing about fundamental reasons for something like this to happen since November 2025.
Burry's warning on leverage
He has become one of Wall Street's most vocal skeptics of the artificial intelligence boom, questioning the durability of the spending and demand underpinning the rally and betting against some of its biggest beneficiaries. He argues major market cycles can take months or years to unfold, which makes timing them especially dangerous for investors using leverage.
According to Burry: "If something revolutionary is going to happen, it will happen," His advice in the meantime is to stay away from leverage rather than try to time the turn, so as not to get caught up in someone else's mistake along the way.
Source: CNBC
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