September 13, 2010
Good afternoon. It was a second in a row up week for the market last week, with the SPY advancing .59 to close at 111.48 (.5%). It was significant because the market was able to hold and consolidate the large gains of the week before, leaving the SPY up a strong 4.3% for the two-week period. The VIX was actually up slightly (3%) last week but still showed a large drop of 10% for the two-week period, closing at 21.98.
December 14, 2009
Good morning. It was a very inside week in the market last week, with the SPY up a whole .10, closing at 111.11. That represents a very dramatic move up of 66% from the March lows, and puts the market back to where it was on 10/2/08. It does seem like the advance has slowed, at least temporarily, as the SPY traded over 110 two months ago and has basically flat lined since then. The market is still down almost 29% from its all time high of 156.33 in October of 2007.