Volatility Ahead
With credit crunch acting as overhang and together with options expiration this Friday, be ready for more volatility ahead this week. Here's a look at the 5 year weekly VIX chart:
I'm no expert in the VIX. But just by looking at this chart, the VIX is now located outside the upper bollinger bands and last week, it has broken out of a key 5 year resistance. What does this means? Remember, the VIX represents the fear index. I recommend you to go over to VIX and More if you want to go in depth into VIX. Bill's entire blog is dedicated to VIX discussion.
Mon: Retail Sales, Business Inventories
Notable earnings: NTES
Tue: PPI, Trade Balance
Notable earnings: HD, UBS, HAR
Wed: CPI, NY Empire State Index, Industrial Production & Capacity Utilization
Notable earnings: DE, CRM, PETM
Thurs: Housing Starts, Building Permit, Phil Fed
Notable earnings: ADSK, HPQ, JCP,JWN, KSS
Fri: Options Expiration, Michigan Sentiment
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