S&P500 Highest since 2007; This Week Saw Both 2013 Low and High on VIX
New High and Correction on S&P500
This week S&P500 first made new post-2007 high (Tuesday close at 1530.94) and then corrected a bit. So far in February S&P500 has slightly outperformed the Dow Jones, which has been fluctuating around the psychological level of 14000 (which is also almost equal to the Dow’s 2007 and all time high).
VIX Extends 2013 Range on Both Sides
The range on the VIX (CBOE Volatility Index) was wider this week than in all the previous weeks in 2013 so far. First the VIX made new low on Tuesday as equities were making their highs and then it spiked to the 15’s as equities were correcting.
The VIX briefly got even above 16 for a couple of minutes on Thursday afternoon. It has lost over 2 points from that point to the end of the week (14.17).
VIX Futures Curve
As usual, the swings on spot VIX were reflected much more on the short end of the VIX futures curve than on the long one. All in all, the whole curve is virtually unchanged week-to-week, except for the front month, which gained 0.35 points. November 2013 VIX futures contract started trading this week.