Surging VIX Shakes Bulls as S&P 500 Charts Go Haywire
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This week’s vortex in equities is a sign of things to come for Donald Selkin, the chief market strategist for National Securities Corp.
Three days of Standard & Poor’s 500 Index swings exceeding 1.5 percent have sent the Chicago Board Options Exchange Volatility Index up 21 percent since Oct. 6 to 18.8, a level not seen since February. About $800 billion has been erased from U.S. equities in three weeks as the average size of daily moves in the S&P 500 almost doubled.