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U.S. equity markets experienced a volatile intraday trading session on Friday, as news unfolded throughout the day with respect to the ongoing DOJ Special Counsel legal investigation of the Trump administration and its potential involvement with Russian interference in the 2016 election, as well as to discussions and a final vote on tax reform/cuts in the Senate, as shown on the Daily charts below of the SPX and VIX.
U.S. equity markets experienced a volatile intraday trading session on Friday, as news unfolded throughout the day with respect to the ongoing DOJ Special Counsel legal investigation of the Trump administration and its potential involvement with Russian interference in the 2016 election, as well as to discussions and a final vote on tax reform/cuts in the Senate, as shown on the Daily charts below of the SPX and VIX.
It appears that several international Financial ETFs have, generally, performed well over the past couple of years and are, either approaching major resistance, or have already reached it, when compared with their respective country’s Major Index on a ratio basis.
The first is the XLF:$SPX ratio, as shown on the 5-Year Daily ratio chart below.
As can be seen on the Year-to-date percentages-gained/lost graph below, the Technology sector (XLK) leads the other eight major sectors in gains, so far, this year.
I last wrote about the SPX:VIX ratio in my post of October 25. I mentioned that if price dropped and held below the 200 level, expect volatility to increase and weakness to set in on the SPX…and, that if it failed to do so, we could see the SPX reach 2600 before such a scenario may ensue.
Since that date, we’ve seen the SPX stabilize somewhat, bounce around above 2560, and, finally, reach 2600 today (Tuesday), as shown on the Daily chart below.
