The V-shaped recovery seems to be falling apart as the continuing jobless claims have stalled suggesting we may be about to see a jump in unemployment coming our way. Thousands of people lined up at Kentucky unemployment offices trying to find out where their payments are and the lines had an 8 hour wait time. KY isn’t the only state that has massive backlogs in their unemployment and movements are building around the country of the 46 million unemployed wondering where their unemployment insurance benefit checks are. 46 million have filed for unemployment in the last 13 weeks and there is a lot of losses in Texas and Nevada which led the collapse. The stimulus incentives to keep employees on the books are also about to come to an end wich means the pain has only just begun. 1.5 million more people have just filed for unemployment for the past week alone despite the constant fanfare from the recent jobs report. According to Goldman Sachs, the stock market may not have very long at these record-high valuations as the third-largest non-December expiration on record, in addition to $230bln of SPY options and $250bln of options on SPX and SPX E-mini futures. There is a lot of pension selling heading our way due to the major moves in bonds and stocks according to their modelling meaning we could see some troubled waters within the next 2 weeks to be exact.