Trading Volatility
Just when it looks like it's all over the markets rally higher. This is the type of day I've been looking for. The S&P Futures low of 1804 may be a short term bottom, but keep in mind the S&P was still off 20 handles today. Volatility is the name of the game and they were at the extremes today. VIX got up to 32 intra-day. Bonds spike higher to over 160. Higher bonds means lower interest rates. Lower interest rates are bad for the financials. I don't hear anyone talking about the financials and nothing can happen without the financials.