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The NASDAQ 100 continues to be the big out-performer over the past 6 months, up nearly 25% in that time frame. The S&P 500 has gained a very respectable 19% in the past half year while the Russell 2000 is slightly negative over the same period. How long this massive out-performance can last is anyone’s guess.
Implied Volatility (IV) headed sharply lower following the Fed meeting. The VIX now stands at just under 20 and is back within the regime of volatility bounded by 16 to the downside and 22 to the upside. I expect a slow creep lower into year-end, barring any major surprises.
