Market drifting in lackluster session Stocks remain lower and continue to move in a narrow range. Declining stocks are ahead of advancing stocks by almost 2:1 on both the NYSE and Nasdaq, while up volume and down volume are essentially even on the Big Board but down volume leads up on the Nasdaq. Crude oil prices are rising, up about 2.5%, while gold is basically flat for the session. The Dow is down 17 points, the Nasdaq is down 15 points and the S&P is down 5 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.