Smart Investing Today – Your Stock Market Market Digest
Hold On! The VIX Isn’t as Low as It Looks?!?!
Yesterday, the VIX fell to its lowest level since 1993–except for one problem: It didn’t actually. See, back in 2014, the CBOE changed the rules for the VIX index by including weekly options in the mix, says MKM Partners’ Jim Strugger, so today’s VIX is not quite the same as the one everyone was looking at just a few years ago. Strugger explains: Given all of the historical comparisons being made it is worth a reminder that the CBOE enhanced its calculation of VIX in October 2014 to include weekly options contracts on the S&P 500 Index (SPX, 2401.30).
Freeport-McMoRan: The Bullish Drivers for 2017
May has generally not been a positive month for equity investors (DIA)(DJIA-INDEX). This phenomenon is infamously known as sell in May and go away.
Why Mario Gabelli Is Investing in Media and Telecom Companies
Mario Gabelli is optimistic about the media, cable, and telecom industries.
Precious Metals Snapshot
- Gold Spot Price: $1,225.00 per ounce
- Silver Spot Price: $16.35 per ounce
- Platinum Spot Price: $910.00 per ounce
- Palladium Spot Price: $804.10 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $119.65, which is 0.4% above its 50-day exponential moving average of $119.15
The RSI is 46.68 which suggests that SPDR Gold Shares (GLD) is technicallyneither overbought nor oversold.
The current trend is moderately bearish and GLD is experiencing buying pressure, which is a positive indicator for future bullish movement.
According to the MACD, SPDR Gold Shares (GLD) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Gold Shares (GLD) has on average historically fallen by 0.2% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has fallen lowerby an average 0.2%in 6 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 50%
SPDR Silver Shares (SLV) share price is $15.93, which is 5.1% below its 50-day exponential moving average of $16.78
The RSI is 25.00 which suggests that SPDR Silver Shares (SLV) is technicallyin oversold territory.
Based on the share price being below its 5, 20 & 50 day exponential moving averages, the current trend is considered strongly bearish and SLV is experiencing slight selling pressure.
According to the MACD, SPDR Silver Shares (SLV) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Silver Shares (SLV) has on average historically fallen by 0.2% based on the past 11 years of stock performance.
SPDR Silver Shares (SLV) has fallen lowerby an average 0.2%in 6 of those 11 years over the subsequent 4 week period,corresponding to a historical probability of 54%
Trending Stocks On The Move
World Acceptance Corp. (WRLD) share price is $88, which is 38.5% above its 8-day exponential moving average of $63.52
World Acceptance Corp. (WRLD) share price is $88, which is 61% above its 50-day exponential moving average of $54.68
According to the MACD, World Acceptance Corp. (WRLD) is currently on a Buy Signal.
Nvidia (NVDA) share price is $102.94, which is 0.5% below its 8-day exponential moving average of $103.47
Nvidia (NVDA) share price is $102.94, which is 0.4% below its 50-day exponential moving average of $103.34
According to the MACD, Nvidia (NVDA) is currently on a Sell Signal.
Portola Pharmaceuticals, Inc. (PTLA) share price is $42.08, which is 6.6% above its 8-day exponential moving average of $39.47
Portola Pharmaceuticals, Inc. (PTLA) share price is $42.08, which is 12.8% above its 50-day exponential moving average of $37.30
According to the MACD, Portola Pharmaceuticals, Inc. (PTLA) is currently on a Buy Signal.
The VIX figure is 9.96. This is 43.1% below the historic median figure of 17.51.
The CBOE Volatility Index® (VIX®) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. Historically, VIX levels above 50 correlate closely with periods of stock market panic while VIX levels below 20 are more typical during relatively calm periods in the market.
The 10,000 Foot Economic View
Total Market Cap / GDP
The ratio of the Total Market Capitalization (Wilshire 5000) to United States GDP is 1.3115. This is 48.7% above the historic median figure of 0.88.
The higher the Market Cap/GDP figure is relative to its median level, the higher the perceived risk in the market. Markets can remain overvalued for extended time periods.
The S&P Earnings is 94.59. This is 69.3% above the historic median figure of 55.87.
The higher the S&P Earnings are above their median level, the higher the perceived risk in the market.
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