The Volatility Index reached the low 40s last week. Volatility Futures (VX) are down in pre-open trading this morning and major Index Futures (ES, YM, NQ, & RTY) are up, but event risk remains high. Not only will we have the election this week, but we will have an FOMC meeting, an employment report, and other potential catalysts creating high uncertainty as you can see in the high implied volatility of the Volatility Index (VIX) in the chart below. We've talked about this in our coaching sessions. Implied Volatility of VIX (VVIX) measures the level of confidence market participants have in their volatility estimates. High VVIX means high uncertainty. Investors should be cautious this week.
Here is the list of scheduled news/events with the potential to move the market this week.
| Monday, Nov 2nd | |
| 9:45 AM | PMI Manufacturing Final |
| 10:00 AM | ISM Manufacturing Index |
| 10:00 AM | Construction Spending |
| Tuesday, Nov 3rd | |
| Election Day | |
| 8:55 AM | Redbook |
| 10:00 AM | Factory Orders |
| Wednesday, Nov 4th | |
| FOMC Meeting Starts | |
| 7:00 AM | MBA Mortgage Applications |
| 8:15 AM | ADP Employment Report |
| 8:30 AM | International Trade In Goods & Services |
| 9:45 AM | PMI Composite Final |
| 10:00 AM | ISM Services Index |
| 10:30 AM | EIA Petroleum Status Report |
| Thursday, Nov 5th | |
| 7:30 AM | Challenger Job-Cut Report |
| 8:30 AM | Jobless Claims |
| 8:30 AM | Productivity & Costs |
| 10:30 AM | EIA Natural Gas Report |
| 2:00 PM | FOMC Announcement |
| 4:30 PM | Fed Chair Press Conference |
| 4:30 PM | Fed Balance Sheet |
| 4:30 PM | Money Supply |
| Friday, Nov 6th | |
| 8:30 AM | Employment Situation |
| 10:00 AM | Wholesale Inventories (Preliminary) |
| 3:00 PM | Consumer Credit |