BALTIMORE (Stockpickr) -- It's data dump Thursday, perhaps the only antidote to the extremely low-volatility market conditions Mr. Market has been plagued with since the start of February.
The S&P 500 has been locked in a tight range since the beginning of the month, driving the VIX Volatility Index down to its lowest sustained levels since last July. It's somewhat ironic that the high levels of volatility that made the broad market untradeable in the fourth quarter of 2011 are being followed up by extreme lows in volatility now, but either way, traders aren't laughing.
Of course, we're not far off from seeing a more tradable market this month. The S&P's current consolidation range has strong resistance right at the 1350 level, and a push above that price would take out a major hurdle for this rally.
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