January 22, 2021

This could be the next signal for the S&P 500 to climb past 3,000, says Standard Chartered

Our chart of the day, from Standard Chartered’s Steven Englander, head of North America macro strategy, and Geoff Kendrick, head of emerging-market currency research, takes a fresh look at the possible direction for that index: The chart shows how tight the relationship has been in recent weeks between the S&P and the Cboe Volatility Index (VIX) a volatility gauge for stocks known as the VIX or “fear gauge. The VIX is based on options contracts for the next 30-days pegged to the S&P 500, and tends to rise when stocks are falling, and vice versa.

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