Beginning on Monday, August 6, the S&P 500 has turned in daily returns of +0.23%, +0.51%, +0.06%, +0.04%, and -0.13%. The average return has been 0.15% per day. Is this thing even alive?

The VIX (S&P 500 Volatility Index) hit a 52-week low, closing today at 13.70.  The market hath neither fear nor pulse.  In fact, besides 2008, today’s VIX close was the lowest since 4/5/2005, almost before VIX began trading in late 2003.

Editor's Note:  David Brown is traveling today. Our guest editor is Scott Martindale, Senior Managing Director of Sabrient.

New Year’s Party at the Stock Exchanges Rages On

by Scott Martindale, Guest Editor