NASDAQ & S&P Hit New Highs – VIX at Records Lows
The VIX dropped to a low of 9.67 intraday. The Chicago Board Option Exchange Index’s, aka the Fear Gauge, was on target for its lowest closing level in 24 years. Prior to today it has gone as low as 9.70 on Dec. 27, 199. The record low for the VIX is December 1993, when it reached 9.31. By comparison, the VIX’s historical average is 20. The NASDAQ and S&P 500 hit new all-time intraday and closing highs. Markets were in a tight trading range today and we never saw a clear opportunity to enter a position.