Wall Street’s fear gauge has fallen to its lowest level in months, and Wall Street strategists are concerned it could be a warning that the latest stock-market rally is coming to an end.
Others said they’re worried the low VIX will soon revert to its long-term average, bringing the latest market rebound to an end. “While the economic backdrop has become more favorable over the past three months, we believe that much of the upside is already discounted in a lower VIX and higher stock prices,” Golub said.The gauge looks “oversold” based on a model used by Fairlead Strategies Chief Technical Analyst Katie Stockton.
Although the S&P 500 SPX has been rising since the start of the year, it has basically gone nowhere for the past month, FactSet data show.
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