Tuesday, April 21, 2015

Needles and Pins...04.21.15

The best word for today's action......jumpy. A nice NYAD pop at the open was in full retreat all day. The XIV, which had looked promising for much of the day, finally closed in the red in the last few minutes of the market  Volume was very low...about 40% of normal...and the VIX struggled to find some traction, without success, throughout the day.
Reiterating yesterday's best odds scenario>> it may be a sleeper for the rest of this week with the risk/reward equation skewed bullish next week as we head into the end of the month fulcrum.