Quiet Strength Hits Pause

by | Aug 2, 2023

Volatility is rising after weeks of quietly solid gains for stocks.

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.


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