This is unprecedented: 2026 is currently on track to become the only calendar year in at least 30 years with zero 80%+ NYSE downside-volume days. These are days when at least 80% of NYSE trading volume comes from declining stocks, signaling unusually broad-based selling pressure. By comparison, 2008 had 49 such days during the Financial Crisis, versus 33 during the 2022 bear market and just 9 last year. Meanwhile, the average since 1997 is 21 such trading days, with no calendar year ever recording fewer than 5. In other words, broad-based selling pressure has been almost nonexistent so far in 2026. The market is more resilient than ever.(The Kobeissi Letter)