05/27/16 09:08 AM EDT

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.

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."

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

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

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