The Big Chill

Check out this chart of the S&P 500. It’s is a high-low-close chart. Instead of focusing on the direction of the market, take note of the daily range — the spread between each day’s high and low.

In particular, notice how much the daily range has narrowed over the last six months. This, my friends, is the big story. Investors have chilled out in a major way.

Posted by on February 9th, 2012 at 5:03 pm


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