VIX (Fear Index) is at an all time low – Here’s what to expect this week…

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Original Link | RockwellTrading by Markus Heitkoetter

Trading was quiet last week, which was expected because of Thanksgiving. But stocks were up nicely considering it was a short week.

Both the S&P and DOW added 0.9%. Meanwhile, the NASDAQsoared. Up 1.6%, the NASDAQ led the way.

But in spite of last week’s rally, volatility remains extremely low. The DOW has gone 67 straight days without a 1% move, one of the longest streaks in history.

With the historically low volatility, the VIX (aka Fear Index) hit an all-time low of 8.55 on Friday.

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The Here’s where the major indices ended the week:

  • The S&P finished 0.9% higher. Up 24 points, the S&P ended at 2,602.
  • The DOW ended with a 0.9% gain. Adding 200 points, the DOW closed at 23,558.
  • The NASDAQ was up 1.6%. With a 106 point gain, the NASDAQ finished at 6,889.

Crude Oil (CL) had a great week. Up 4.0% CL finished at $58.97 a barrel with its best weekly close of the year.

Over the weekend, Bitcoin rallied to a new record high, breaking past the $9,100 mark. At these levels, Bitcoin has a market cap of $137 billion plus. This is a higher market cap than 93% of the companies in the S&P!

This week is the last trading week of November. Right now it looks like the major indices are set to finish the month with gains once again. In the last 21 months, the S&P has finished higher in all of them but one.

Here are this week’s key reports (all times ET):

  • MONDAY – New Home Sales at 10:00am.
  • TUESDAY – Consumer Confidence at 10:00am.
  • WEDNESDAY – Preliminary GDP at 8:15am, Fed Chair Yellen testifies and Pending Home Salesat 10:00am, and Crude Oil Inventories at 10:30am.
  • THURSDAY – Unemployment Claims at 8:30am, and Chicago PMI at 9:45am.
  • FRIDAY – ISM Manufacturing PMI at 10:00am.

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