FYI: The lack of volatility in the markets these days has really been something to behold. If your EKG looked like an intraday chart of the S&P 500 recently, the doctor would probably be reaching for the paddles. The latest example of zero volatility in the market comes courtesy of the S&P 500’s intraday trading range. Over the last 50 sessions, the S&P 500’s average percentage spread between the intraday high and intraday low has been 0.540%. Going back to 1983, when our database of intraday data begins, there has only been one other time where the S&P 500’s 50-day average intraday range was narrower. That was back in early February 1994 when the average range got as low as 0.539%, so the current narrow range is close to a record. But it gets even better. Barring a big intraday move tomorrow (greater than 1% – an intraday range we haven’t seen since mid-December), the S&P 500’s average daily range will drop below the record low of 0.539% that has been in place for nearly a quarter of a century. Even the computers have gone fishing.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/the-gone-fishing-market/
