GLD moved up a whopping 0.62 or 0.39% last week and GVZ reacted with a dramatic increase of 0.01.? A saying that Jim Bittman likes to use is, ?We are sharply unchanged on the day?.? That applies to gold and gold volatility last week.? There is a feeling that the 160.00 level for GLD is significant and a day or two of consistent trading below that level could signal the beginning of a down trend.? Maybe that technical break is what it will take to get GVZ moving as well.
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The price of oil has been moving steadily higher and oil volatility seems to believe the steady or lack of volatile movement is going to persist.? OVX has dropped to the mid-20?s which indicates traders are expecting little in the way of dramatic changes in the price of oil.? Maybe a break above 100 will get traders a little concerned about higher prices, but for now a status quo slow market is priced in.
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Russell Rhoads
@russellrhoads
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