Extent of VIX and High Yield Spread retreat looks comforting

US Equities have remained in a fragile period of choppy consolidation lately, and despite SPX being up 5% from the 4/7 intra-day lows of 4835, it certainly doesn’t feel like stocks have been rising lately. There remains some evidence that 4/7 lows were, in fact, more extreme in creating some volume imbalances and a strong breadth push off the lows to add some credibility to April having created a bottom in stock indices. Ho...

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