VIX

Malkiel would be shocked...

As we noted previously, one of the bedrock notions in modern finance is the “Random Walk Hypothesis”, which essentially says that every day is a new one.  Markets are like Buddhist monks in this paradigm, waking up with nothing and taking their begging bowl into the streets to see what fate brings. If markets are up 5 days in a row, the sixth day may be up or down in line with long term trends.  And long term here means the life span of a Galapagos Island tortoise.

By Nick Colas of Convergex

10 Stats About The Last 10 Years

Via ConvergEx's Nick Colas,

Who’s afraid of the big bad bear?  No one, it seems.

 

In January and in early February UBS' technical analysts said that while they do not believe in a 2008 event, 2016 should be a highly volatile and a trading oriented year for equities... and so far it has. But now Michael Riesner and Marc Muller see a high likelihood to move into our suggested early Q2 cycle top this week.

With last week’s higher low at 2033, we have a new pivotal support in place in the SPX, which makes 2033 to a tactical key support.

Some critical observations on investor positioning from BofA's Michael Hartnett

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On April 28th the current bull market in the S&P500 will become the 2nd longest ever

3 observations:

1. Quantitative Success on Wall Street