The Most Hated Uptrend
If there is anything hotter than this weather in the U.S., I'd like to know. The sweltering heat here on the West Coast, with temperatures easily passing triple digits, have made us all lethargic as we move slowly and yearn to sit it out. It's kind of what we are seeing in markets, right? Volatility has been crushed, volume is absent and participation is lacking, along with interest.
What's surprising is where the indices are sitting. They're at nearly three month highs as the most hated rally in the history of mankind continues. Who has really been excited about buying this market? Other than a few sharp rallies after statements from European Central Bank President Mario Draghi and the Federal Reserve, as well as earnings, the price action has been only OK. Yet from the beginning of June the S&P 500 has gained more than 13% and the Nasdaq is higher by 12%, as is the Russell 2000. Meanwhile, volume is lower by some 30% and the CBOE Volatility Index (VIX) has fallen about 45%. What gives?...346 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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