Is the market on vacation?
No action in the market lately. Should we enjoy the silence?
In the last 20 trading days, the difference between the closing high and closing low in the S&P 500 has been only 2.15%, the Bespoke Investment Group reports.
This is the smallest spread since February of 2007, according to BIG.
What a difference from October, when the same 20-day spread rocketed up to 40%, BIG says.
"We're definitely ending the year on a much different note than the way it started," write the BIG authors.
And that's not necessarily a bad thing.
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All hail the bull market, which ended the week with a big rally. But it also is starting to look a little like 1987, which suffered an epic blow-out.
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