February 28, 2011
Good morning. Rising tensions in the Middle East caused the market to have its first down week in a while last week, with the SPY closing (despite a strong rally on Friday) at 132.33, down 2.24 (1.7%). The VIX spiked higher to finish at 19.21, up 3.32 (17%) from a very low close before the three-day weekend of 16.43.
April 20, 2009
Good morning. Yet another positive week for the market, making it five advancing weeks in a row! Is there anyone out there (except the talking heads on TV who seem able to revise their predictions on the fly) who would have thought that on those dark days of early March?
April 13, 2009
Good morning. A furious rally of 246 points last Thursday made for a holiday shortened positive week in the market, with the SPY finishing up $1.65 or 1.8% for the week. The continued upside move in the market caused the VIX to drop 3.18 points to 36.52, a value the market has not seen since September 26, 2008. The VIX made an initial drop this year, after a relatively sharp year-end rally, to 36.88 on January 2, but has spent most of the year over 40. This morning we are seeing a modest retracement so far of last Thursday’s rally, but nohuge sell-off.