Meta Strategy Trading Portfolio – Probability Map Update.
Deceptively Calm?
A quiet holiday week was not unsurprising after a 10% rally within three weeks – a very short time frame for an average annual S&P500 return!
We saw a tremendous collapse of the Vix below 13, where its historic lower bound is situated, but, contrary to widespread opinion, I do not expect an immediate snap-back to significantly higher Vix levels.
One of the most reliable features of stock markets over time is that low volatility tends to cluster – often for significant amounts of time.
However, a temporary stock market dip over the short term would be normal and healthy to reset over-bought conditions.
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