Yesterday’s healthy bounce was expected and was in-line with normal market behavior.
The next few days though could see “abnormal” behavior because as of this writing (late Tuesday night) the government is supposedly closed and non-essential activities, including this Friday’s Jobs Report have been put on hold. Everyone (and I do mean everyone) expects this closure to end quickly and a prolonged delay has not been priced in. Should this continue beyond expectations, stock prices will begin to move lower.
There are no real edges in place today and the market will be waiting until one side or the other blinks first.
Today’s Potential Opportunities on Further Pullbacks:
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New Short-Term Volatility Index
Good news from the CBOE with the launch of their new Short-Term Volatility Index – VXST:
We’ll be all over this with new research once we have access to the data.