VIX = 19.54; “All Clear!”

This was an impressive day for Wall Street. Stocks opened higher and they kept rallying into the closing bell. The S&P 500 finished trading at 1,987.05, perhaps a nod to events 28 years ago this month. Since Friday’s low, the index is up 93 points.

Perhaps the best news is that the VIX closed at 19.54, which triggered my “all clear” warning. That doesn’t mean the market is about to surge higher, but it probably signals that the elevated volatility is behind us.

Today was a heavily cyclical day. For example, Wabtec (WAB) was up more than 4% today. Moog (MOG-A) also did well.

Students of the Elfenbein Theory will recognize today as a classic Quadrant 1 day.

Posted by Eddy Elfenbein on October 5th, 2015 at 5:39 pm

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