A nice move down in the VIX today brought in some premium but it’s still really elevated (futures over 4% in backwardation). Today’s up volume in SPY was about average (based on the 50dma) but not as high as yesterday’s down move. Could this be a higher low or just a bounce after 3 big down days, a reprieve on the way to lower prices? We’ll see next week.
Best Supporting Actress: Allison Janney
Best Supporting Actor: Sam Rockwell
Best Actress: Frances McDormand
Best Actor: Gary Oldman
Best Director: Guillermo Del Toro (Shape of Water)
Best Picture: Three Billboards Outside Ebbing Missouri
Probably not much of a stretch there, but go make some money in your Oscar pool 🙂
Have a great weekend everyone.