While the stock market welcomed the temporary resolution of the fiscal cliff, it does not seem too concerned about the looming debt crisis, at least according to the VIX.
As of Tuesday’s close, the S&P 500 and NASDAQ composite have recovered over 3 percent and 3.5 percent, respectively, from the post-election low set on Friday last week.
While oversold conditions don't mean the indexes can’t go lower, we looked at broader market sentiment to see if there will be any temporary relief for the markets from recent downslide.
The post-election selloff comes on the heels of downbeat comments from ECB President Mario Draghi regarding Germany’s outlook and the uncertainty of the "fiscal cliff" in the U.S.