Is This The New "Normal" For Markets
We realize it's early to make any statements about the stock market returning to "normal," but today's action begs the question of whether some of the volatility has been shaken out.
Wells Capital Management's Chief Investment Strategist James Paulsen sent us the chart above. While November is still young, and the trading day is not over, he points out that the first trading day of November, for now, represents the "lowest" daily volatility in the S&P 500 index since Sept. 3. As of mid afternoon, the volatility was only 1.35 percent, defined by the percentage change between the day's high and low.
Check out the Chicago Board of Options Excgange's VIX. It was down more than 8 percent today, at 55.17, way off its Oct. 24 high of 89.53.
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Personally, it feels like today's calm will be fleeting. But November also feels way different than spooky October.
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