Market On Open - Wednesday 27 March

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Volatility? What Volatility?

by Alex King

Here’s the Vix, which measures implied volatility in certain expiries of S&P500 index options.

From a low struck at the end of December 2023, it’s been on the rise through 2024, not that you would know it. Right now volatility, at least as measured by the Vix (and it’s not a simple measure - see here), is low, and you can tell this from the fairly boring slow-up nature of markets. Now, boring is good when it comes to investing. Boring means if you have set your course correctly you can just quietly do nothing and get richer most weeks. This is good. Unless you are a dopamine fiend in which case you are actually looking for a little fear in the pit of your stomach. Good luck to you if so! What we’re trying to do here is measure emotion, measure market moves, and try to make money out of other folks’ dopamine quests.

To this end, below we run through our usual charts - we cover the US 10-year yield, the S&P500 in three incarnations (SPY, ES, UPRO), Nasdaq, the Dow and the Russell ditto (unlevered ETF, futures and 3x leveraged ETFs in each case) - plus some sector-specific levered and unlevered ETFs. We do this daily for our paying members here, whether you are a member of the Inner Circle or our Market Insight membership tiers.

If you’ve yet to sign up for one of the paid tiers here? You can do so from the links below. The signup links below will give you the options, but if you have any difficulties signing up, you can reach us right here.

Short- And Medium-Term Market Analysis