Stocks have been drifting sideways all week as anxiety surrounding the upcoming European summit has proven to be an unavoidable cloud of uncertainty. Back and forth negotiations between European leaders have paved the way for choppy trading on both sides of the Atlantic ocean, although as a whole, volatility has been relatively low this week as major economic data releases have been quite sparse. The Volatility Index (VIX) has been sitting below the 30 mark since the massive equity market rally last week; however, the VIX has been creeping up higher since last Friday, suggesting that uncertainty will remain a dominant theme as long as Euro zone debt woes remain unresolved.
Checking In: Trading Ideas
This week, our technical trading ideas included short recommendations in two sector-specific ETFs along with a long position in a popular commodity fund. Below, we highlight how our trade recommendations from Monday’s Insider have been holding up this week:
Trading Idea #1: Short XLU
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