Behind The No-Volume Month-End Markup & An Update On Volatility

Takeaway: US Equity Volume was -23% yesterday vs its 1 month average. Meanwhile, the VIX is poised to make yet another lower high in the coming week.

Behind The No-Volume Month-End Markup & An Update On Volatility - Volatility cartoon 09.02.2015

Isn't it funny that on up days market volume disappears?

Here's volume and volatility analysis via Hedgeye CEO Keith McCullough in a note sent to subscribers earlier this morning: 

"Post another no-volume month-end markup in US Equity beta (Total US Equity Volume -23% yesterday vs. its 1 month avg!) to lower highs, my front-month volatility signal says we see another higher low in VIX in the coming week – VIX risk range = 13.16-16.90; buying stocks (chasing beta) at 12-13 VIX has not worked in 2016."