NAOS Asset Management

What will ultimately break the trend for the current bull market, complacency, trading volume? The S&P 500 is now at another record high though many investors, especially domestic ones, continue to say that the market is too complacent and is not factoring in enough earnings risk over a 12 month view, hence many stocks are priced for perfection. The above comes at a time when (1) the VIX for the S&P 500 is now roughly 10.70 which is the lowest since late February 2007. (2) trading volumes on the S&P 500 are reaching new highs on less and less volume, and (3) the percentage of investors who are bullish on the S&P 500 is also above 60% which, similarly to the VIX, is a record high since January 2005. Read more in our report: (VIEW LINK)


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