With 2015 now in the annals of history, the message that came out can be described as mixed at best and bearish at worst. The S&P 500 index fell 0.7 percent last year – essentially flat (Chart 1). The Nasdaq … Continued
Spot VIX has had topsy-turvy ride this month First time in three years, hedge funds went net long VIX futures last week On three other occasions past five years, this preceded lower VIX in outer weeks/months The VIX has done … Continued
Since we got that VIX-spike signal four weeks ago and subsequent signs that equities are regaining momentum, this is the first time we are getting signals that they are worn out – at least near-term. Since the bottom at 1904.78 … Continued
Enough ink has been spilled on how in recent months major indices – and sectors/industries within them – have been diverging from each other. For two and a half months beginning late February/early March, previously risk-on favorites such as solar, … Continued