As we headed into the halfway point of the year, we noted how remarkably stable the stock market had been this year. From April through the middle of July, the S&P 500 went 62 straight trading days without a 1 percent daily move in either direction. That was the longest such stretch since 1995.
But the market is starting to stir now. In the past 14 trading sessions, the S&P 500 has already had three different days in which it moved by at least 1 percent.
That doesn’t mean this market is unusually choppy, though. Before the 1 percent streak was broken, the Volatility Index, or VIX, was at 11, which is a historically low number. It has since risen to near 17 – much higher than it has been, but still will below the historic average of 20.
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