CBOE Volatility Index
Lastly, the CBOE volatility index (VIX) was up above 20 the last time we checked in on it, but it has since turned back around.
Weekly Chart of the CBOE Volatility Index
During the past few years, a VIX reading below 15 has been indicative of a level of comfort or complacency among traders, and that has corresponded with a bullish trend in the market. The VIX is currently right under 15.
The Bottom Line for Next Week
It’s still way too early to give up on the bullish mood on Wall Street. While there are definitely going to be some bearish trading opportunities out there, which we will look to take advantage of, we plan on giving our portfolio a bullish slant for the time being.