March 30, 2017 Market Wrap Up

After last week’s selling pressure, the markets are back to embracing the grind, the grind higher that is, as all major indices closed up higher. In terms of news, it was a relatively light day. However, we did get real GDP numbers, which came in at 2.1%

Where is the VIX in all of this?

The VIX is back below 12, closing at 11.54. With that said, fear has subsided a great deal since last week.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +1.93%, iShares 20+ Year Treasury Bond (TLT) -0.81%, SPDR Gold Shares (GLD) -0.72%.

On the options front, we saw large call buying activity in Manpower Group (MAN), which traded 9.2 times normal option volume. In addition, we saw heavy put buying in Omnicom Group (OMC), which traded 8.1 times normal option volume.

Tomorrow is the end of the quarter, which might create some added volatility.

Key Economic Data:
28 March 2017- International Trade in Goods 8:30 AM ET
29 March 2017- Pending Home Sales Index 10:00 AM ET
30 March 2017- GDP 8:30 AM ET; Jobless Claims 8:30 AM ET
31 March 2017- Personal Income and Outlays 8:30 AM ET

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