Editor's Note: Below is a brief excerpt from today's Early Look written by Director of Research Daryl Jones. Click here to learn more about the Early Look.
On the quant side, an interesting call out this morning is that the VIX front month popped to 11.07, which is near the top-end of the Hedgeye Risk Range of 9.36 to 11.41. As Keith wrote in his morning bullets today, “that’s bullish for stocks in as much as SPY seeing implied volatility pop to a 106% premium to 30-day realized is bullish.” The moral of the story is that consensus continues to hedge instead of buy the dips on every correction.
