The market finished the week strong back at all time highs. Last week we saw 4 out of 5 up days, so the market bounce is still in full force.
The VIX is holding the 12 level. We will take a closer look with live data tomorrow.
The real interesting part last week was the movement in volatility. Volatility rose Monday through Wednesday with the market moving higher. A break in this reverse correlation is usually a red flag. We did see the VIX fall Thursday and Friday as the market moved higher. We will track this correlation because now it is still cheap to buy protection.