I just dipped my feet back in the water with some calls on the S&P. While vol has spiked today, a level below 20% considering everything going on in the world seems cheap and indicates the market may prefer to move higher. No way I (personally) would be buying outright here though.
Source: Yahoo Finance
I wouldn't necessarily agree with "fundamentals are winning" statement. Kimble blog pointed out last week that several charts showed the markets near upper end of trading range with likely reversal coming. What came first, the chicken or the egg?
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