Key Takeaway: After 18 days in a row of new highs > new lows and 21 days without a 1% swing in the S&P 500, the market’s extended run of quiet strength ended today.
If bull market behavior is able to persist, this near-term uptick in volatility can present more of an opportunity than a risk. This is especially the case if it helps alleviate the recent surge in optimism and speculative behavior.
I touched on this in my conversation this morning with Oliver Renick.
