The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $141.78, +0.83 (0.59%). The markets are nearing their 52 week highs. On the SPY, this level is $142.21. While more and more investors turn bullish in this light volume August trading, caution still should be used based on a few factors. The first factor is clearly the volatility index or VIX. The VIX (fear index) is staying neutral on the day. The iPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX) is trading at $11.68, -0.07 (-0.60%). Usually, with the market higher, the VIX would be falling much more. The second concerning factor is volume. A market that floats higher on the lightest volume of the year clearly shows a lack of buyers and just no sellers. If institutions are not buying, caution must be used. These factors make any intelligent trader stay on higher alert.
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Stocks Near 52 Week Highs But VIX/Volume Keeps Caution Flag
Published 08/17/2012, 02:01 AM
Updated 07/09/2023, 06:31 AM
Stocks Near 52 Week Highs But VIX/Volume Keeps Caution Flag
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