Many Sectors Showing Strength
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Market State 1 (Bullish) – The S&P 500 currently in Market State 1, a Bullish Market State Environment. Market State has Long-Term indicators positive, Volatility indicators (based on the Canterbury Volatility Index) are positive, and Short-term Supply & Demand indicators are also positive. The Market has been in MS 1 for one month (since March 21st).
Canterbury Volatility Index (63 Day) - CVI 63 – Volatility remained similar to where it was last week. Low (below CVI 75)/declining volatility is a good sign for markets. High/increasing volatility leads to erratic behavior in the markets and often comes with multiple, consecutive outlier days. Back in December, volatility was high and had been increasing. Since the beginning of the year, volatility (CVI) has been steadily decreasing.
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