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Market Outlook

The markets continued showing weakness – first because of election expectations and now selling ahead of the CPI report coming tomorrow at 7:30 CT. And that can shake out the market significantly depending on the report. Given that the VIX is still in contango and pretty much unchanged from yesterday, it may mean that the investors are either fully hedged or not worried. The expected move of the market (SPX) for tomorrow is at $77+/-, and the week (8 days) expected move is at $122 +/-. That tells us that the market may move a lot tomorrow. If the CPI comes in good, expect up to 2% move in either direction.

Market Outlook

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