It’s no secret that the US stock market has been taken for a wild ride over the past few months.

Sharp sell-offs have occurred with frightening regularity, and investors haven’t seemed particularly inclined to buy the dip. Yes, there have been relief rallies after large pullbacks, but equities haven’t been recovering as quickly as they once did. And they certainly aren’t bouncing back to record highs.

The reluctance of investors to scoop up shares at discounted prices shows just how nervous they are about the future of the market. And this past week we got the latest sign that they’re bracing for an imminent stock…