By Doug Short (Guest Post)
The S&P popped at the open, remained undecided for a couple of hours and then marched upward for the rest of the day to close with 2.18% gain. Volatility subsided, with the VIX closing for the day at 31.87 — down 12.35% but still slightly above the 30 anxiety benchmark. The index is in the red year-to-date, down -4.23%, which is 11.67% below the interim high set on April 29. From an intermediate perspective, the index is 78.0% above the March 2009 closing low and 23.0% below the nominal all-time high of October 2007. Below are two charts of the index, with and…
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