In Zenolytics running obsession with pointing out the perfect windows available to investors for buying and selling equities, a new buying window has opened this afternoon.
We are now in the second day of a surprisingly calm effort by the S&P to overtake what has been a historically treacherous trajectory point. As it stands now, this trajectory with a history of so much malfeasance towards the market is sitting at 2910.
The peculiarity of the markets reaction to this trajectory since yesterday should not be overlooked by investors. The markets had a substantial window here post-FOMC to put together some massive volatility off of this key trajectory point. Instead, equities are simply drifting around as if half of Wall Street has already taken off for summer vacation.
This type of continued contraction of volatility runs contrary to the character of this important technical point. As a result, investors can gain key data into the markets character here.
Very simply, there are bidders lurking. Their bids are consistent and deep. The fact that the market aren't be allowed any volatility whatsoever pre-FOMC was fine. However, post-FOMC? In the midst of such a historically important point of abstract volatility?
This is simply downright bullish behavior for a market that is sitting above such an important technical point. The volatility will come. However, the odds just shifted enormously towards a range expansion to the upside targeting S&P 3000+ by early next week.
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