Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
"... Unless we have a 1987 type day, fading market moves (both ways) works. And by the way, with the following immediate-term risk ranges, I wouldn’t rule out what might feel like a modern ‘87 type day either:
- SP500 immediate-term risk range = 135 points wide at 1810-1945
- US Equity Volatility (VIX) immediate-term risk range of 19.92-29.28
- Oil (WTI) and Oil Volatility (OVX) immediate-term risk range of $25.99-33.05 and 57-81, respectively"