"Right now what we’ve seen, which was a bit unusual, is we’ve seen the [Standard & Poor's 500 Index] down a little over 2 percent for the last week of trading," he said. When that happens the volatility index, known as the VIX, would trade higher.
Rather than going in the opposite direction of the S&P, however, the VIX has been down about 13 percent, over the last week.
"That is implying people are a little more comfortable with this market," he said. "They’re not necessarily feeling like we’re going to have that sharp drop, and particularly before the end of the year. It’s putting more of a neutral spin on the market right now."
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Disclosure information was not available for Pat Keman or his company.