Daily Report : Stocks have enjoyed a historic rally, and volatility remains high; Big stocks continue to power the Nasdaq higher
Over the past 3 months, the S&P 500 has enjoyed a historic rally. Even so, options traders are still pricing in a relatively high amount of volatility. Using a synthetic VIX back to 1962, we can see that big rallies accompanied by high volatility had a consistent tendency to lead to even-higher prices over the medium- to long-term.; Even as the Nasdaq 100 powers to new highs, it is being driven by the largest stocks. The equal-weight version of the index just hit a new low relative to the cap-weight version.
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