A Sustained Rally Won't Come from Further Risk Covering

CBOE:VI1!   S&P 500 VIX
62 0 8
The easy, risk-covering trade opportunity has been absorbed this past week. If the S&P 500             is to make another thrust higher moving forward, investors are going to have to mount it on traditional factors: hopeful growth forecasts, expectation capital inflows chasing record highs, hope that the Fed is mistaken in its warnings of two rate hikes this year.
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