Fri Aug 29 14:00:00 EDT 2014 | Briefing.com
As has been the case throughout the week, there isn't a
whole lot of participation in today's market. The proof of that point
shows up in the volume data.
Recall that Thursday was the lowest
volume day of the year at the NYSE. At this point yesterday, 259 mln
shares had trade at the NYSE; today, only 218 mln shares have traded.
That clearly leaves today on track to be the lowest volume day of the
year.
Given the geopolitical scene of late, there is some
understandable hesitation to initiate new positions ahead of the holiday
weekend. Even so, there isn't any potent fear-based positioning taking
place. The CBOE Volatility Index (VIX
12.28, +0.23) is up a decent amount percentage-wise but off a very low
base; the A/D line favors advancers at both the NYSE and Nasdaq; the
10-yr note is up just two ticks; and gold prices ($1287.60, -2.80) are
little changed.
"Little changed" is pretty much the operative expression today in the stock market from a broader standpoint.