News category: EQD Research

This past week was either a solid dead cat bounce or the end of the down turn for stocks. It felt like a very solid week so I am going to lean to the former as the other short term bullish moves in U.S. stock has covered just a couple of days over the past few months. Last week just felt stronger.

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Last week was another tough one for stocks with U.S. small caps leading the move lower as the Russell 2000 gave up 7.5%. The Nasdaq-100 and S&P 500 both lost significant ground as well. The volatility indices reacted by gaining ground and VIX closed the week above 30.00, a round number many market observers like to keep an eye on.

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Early last week I had more than one market participant note that it was starting to feel like a typical low volatility summer season was commencing. I forgot to check in with those folks on Friday to see if they still felt like it would be a quiet three months. After Friday it certainly appears the market is not done with large daily price swings. All the major indices lost between 4% and 6% with the Russell 2000 holding up a bit better than the S&P 500 and Nasdaq-100.

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Friday’s price action pushed the major U.S. indices lower on the week, but a relative quiet week also resulted in all but one volatility index moving lower. The outlier below is VOLQ, which rose slightly, possibly due to excess volatility and future uncertainty in larger Nasdaq-100 components (I’m looking at you Elon Musk).

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The longest week over week S&P 500 losing streak since 1990 is eight weeks which ended on March 23, 2001.  With last week’s 6.58% gain, the S&P 500 losing streak came up one week short at seven. I’m pretty sure most of us are happy to see at least a relief rally in the midst

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The business networks dusted off the bear market graphics as the S&P 500 officially hit bear market territory on Friday. The chart below uses 15 minutes bars to show the amount of time the S&P 500 was down 20%, since we closed outside the down 20% range when they turned off all the machines on

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Last week the S&P 500 got as low as 3858.87, down 19.6% from the all-time high last year. This is so close to the magical down 20% level that the business networks likely had all kinds of graphics ready to go and maybe even a “Bear Market Special” ready for broadcast. However, buyers came in,

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I have been following equity derivative and volatility markets for over a decade. In all that time, I cannot recall an instance where broad based indices and their related volatility indices were all lower on a week over week basis. However, that is what we got last week. Before moving forward, an admission that some

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The markets continued grinding lower last week with all the major indices losing more than 2% and the Nasdaq-100 dropping more than 3% for the fourth consecutive week. VIX closed above 30.00 for the first time since early March this past week doing so three of five trading days. As noted above, NDX has lost

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Last week was a fun one with the market reacting to any words that came out of a Fed official’s mouth. Headlines touting the ‘why’ around last week’s market moves did center on Fed speak where I think we got some mixed signals. The week over week result was a big drop in broad based

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