Stocks roar into post-Powell fear puke

Thursday 2 November 2023

The Market Ear on the bear market rally.

Post Powell fear puke

The gap between SPX and VIX (inv) remains very wide. You don’t compare trending (SPX) to mean reverting (VIX) assets over longer time periods, but there is a logic in watching shorter term gaps…”Last time VIX was here, the SPX traded at 4380…”

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.