Stock Market Weekly -March 20th
After this multi-week selloff, we finally got the big rally, triggered in my opinion by a confluence of events last week: VIX futures expiration (Tue), Fed rate hike (WED), and Quarterly Options expiration (FRI) -wiping out all the bearish Puts! That's not to say that the downtrend is over -only time will tell. VXX - A $905 Million VIX Note Goes Wild After Barclays Halts Sales What Advisors Need to Know About Barclays Suspending VXX, OIL VIX dropped, as did Bonds & Gold. Oil dropped then rallied, closing over $100 again. What was up this week: China stocks, Nasdaq 100 What was down this week: , S&P 500 - huge rally ( chart link ) Could stop here, or could make it up to the prior highs High yield Corporate Bonds (HYG) (2 yr chart ) - big rally Investment grade Corporate Bonds (LQD) (2 yr chart ) -same Market concerns: Inflation, Rising Rates, Russia/Ukraine... Over...