With little economic or political news this week, markets kept doing what they’ve done since late December. The Nasdaq-100 is essentially at record highs. In a day or two, the S&P 500 will cover the 20 more points to the upside to get to its record highs. Meanwhile, the VIX volatility index (VIXY) broke lower to its lowest level since October 2018 - just before U.S. equities began to roll over. All we can conclude at this stage is that the “good entry point” into equities (when the volatility index was spiking) is well past.
Fed-Induced Equity Volatility
Source: SeekingAlpha (April 16, 2019 - 1:13 AM EDT)