The S&P 500 (SPY) broke it’s two-hundred day moving average, finishing up another +3.7% on the week. The NASDAQ 100 is even challenging its 2011 highs as the VIX shows some nascent stability below the 30 line. Can the news flow continue to be supportive at this key inflection point
While the VIX is apparently dangerously stretched, it’s possibly one of those readings where it’s so far beyond normal that technicians must view that in converse, bullish fashion. Perhaps the easiest solution to the conundrum is to hold hedges until the market has better tipped its hand and come back into normal ranges — certainly a more cost effective option that it was just a few short weeks ago.
[Week 44 Calendars: Economic | Reporting]
Source: Mrkt_Commentary subscription service; prior weekly posts.
NEVER INVESTMENT ADVICE
