12.29.2011

Equities In Play

12.29.2011

The market continues to fluctuate despite the four day trading week in U.S. equities.

After a multiple point drop across all asset classes yesterday,stocks came roaring back while gold continued to fall.

The S&P 500 climbed 13 points to 1263. The Dow Jones Industrial Average shot up 132 points to 12,287, giving hope for Bullish traders who still believe a rally is imminent.

Gold fell for the sixth consecutive session in a row to $1524 an ounce. The metal is undergoing a severe correction that has wiped out plenty of stop orders on it’s way down.

Meanwhile, the Chicago Board Options Exchange Volatility Index dropped a few percentage points to 22. It has been over a week since the VIX touched 30, seen as a key line in the sand for traders.

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