Stocks finished flat on an uneventful trading session. However, the market felt more risk-off with the 1-month implied correlation index and theon Wednesday, I expect implied volatility levels to continue to rise today on both the shorter-dated and longer-dated implied volatility levels.
The VIX 1Day closed yesterday around 8, and typically, it gets to around 17 to 19 by the day before the CPI report, and I don’t see why today would be any different.There is some risk with today’s auction since it comes the day before a CPI and FOMC meeting. Now, oil threatens to break out and move above a downtrend that would be a real shock to the inflation and oil bears; all it would take at this point is a push above $79.Meanwhile, the S&P 500 appears to have formed a head-and-shoulder pattern or a diamond reversal pattern on the intraday charts. If so, the index could return to the 5,260 to 5,280 region.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »