Repost worth Repeating:Sentiment Indicators Weekly Recap
Broad market volatility is set to end the week lower after moving back and forth throughout the week, reflecting changing sentiment as equities rallied on Tuesday, but saw afternoon sell-offs each other day of the week. After the up and down trading, equities are set to end the week nearly unchanged from last Friday with the SPX & Nasdaq -0.5% on the week, and the Dow +0.4%. The VIX is down ~10% from last Friday's close, now at 25.61, while the VXN (Nasdaq Volatility Index) moved down by 8% on the week to 29.81. Both the VIX and VXN touched the highest levels seen since mid-August on Monday as the market made multi-month lows, but the fear gauges then pulled back as equities rebounded on Tuesday. The shortened Thanksgiving week ahead may also be contributing to the decline in volatility levels, as traders take time value out of options models to account for the shortened week.
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