Indices cling to gains, try to hold into close of week Each of the major equity indices remains in positive territory, but just barely. The averages rallied from session lows following legislatorís comments regarding a framework for a compromise on the fiscal cliff. Advancing stocks are ahead of declining stocks by more than 2:1 and up stocks are ahead of down stocks by 5:4. Crude oil prices are higher by more than 1.3% and gold is essentially flat for the session. The Dow is up 12 points, the Nasdaq is up 9 points and the S&P is up 2 points.
Vanguard REIT ETF volatility at upper end of three-year range Vanguard REIT ETF overall option implied volatility of 18 compares to its 26-week average of 15 according to Track Data, suggesting large near term price movement.
SPDR S&P Oil and Gas Exploration and Production ETF volatility flat SPDR S&P Oil and Gas Exploration and Production ETF overall option implied volatility of 39 compares to its 26-week average of 38 according to Track Data, suggesting non-directional price movement as WIT oil is at a six-year low.