{"id":68322,"date":"2024-04-06T21:53:15","date_gmt":"2024-04-07T04:53:15","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=68322"},"modified":"2024-04-06T21:53:16","modified_gmt":"2024-04-07T04:53:16","slug":"suddenly-vix-looks-like-it-matters-again-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2024\/04\/06\/suddenly-vix-looks-like-it-matters-again-the-market-breadth\/","title":{"rendered":"Suddenly, the VIX Looks Like It Matters Again – The Market Breadth"},"content":{"rendered":"\n

Stock Market Commentary<\/strong><\/h2>\n\n\n\n

While I watch the tense trading unfold in NVDA<\/a>, the VIX, the volatility index, has suddenly returned to my radar as an indicator of interest. Thursday’s stock market setback came with a surging VIX that closed at a new high of the year. The regular programming of the volatility faders actually failed to make much of a dent in the VIX after the intraday high. Thus, last week’s trading closed with the ominous combination of a strong-looking VIX and a surprising market rebound. The VIX looks like it matters again.<\/p>\n\n\n\n

The stock market rebounded despite another strong jobs report that seemed to confirm the week’s Fedspeak doubting the need for cutting rates anytime soon. The jobs report for March<\/a> delivered yet another set of “hotter than expected” numbers<\/a> (who are these forecasters anyway?) which in turn cooled expectations for imminent rate cuts and pushed bond yields sharply higher. So the market rebounded….just because? Just because there was a dip the day before? Maybe good economic news is actually good news for stocks? The suddenly resilient and consequential VIX tells me, for now, to strengthen my market skepticism. However, just like the currently persistent uptrend, market dynamics are unfolding as a process and not an event (be ready so you don’t have to get ready).<\/p>\n\n\n\n