Momentum Stalling

Monday, stocks rose 1% in Asia, 0.9% in Europe, and 0.5% in the U.S. on low volume. The VXO closed at an unsustainable level of 8.53. The 10-Year U.S. Treasury Bond yield rose 2% to close at 2.19.

Tuesday, stocks closed little changed in Asia, fell 0.7% in Europe, and dropped 0.8% in the U.S. on low volume. The VXO moved up 9% to close at 9.33 while the 10-Year U.S. Treasury Bond yield fell 2% to close at 2.15. Wednesday, stocks fell 0.7% in Asia, sightly in Europe and 0.4% in the U.S. on moderate volume. The VXO jumped 14% to close at 10.60.

Thursday, stocks rose slightly in Asia but closed little changed in Eurpe and the U.S. on low volume. The VXO dropped 13% to close at 9.23. Friday, stocks rose slighly again in Asia, fell 0.3% in Europe, and closed up slightly in the U.S. on high volume. The VXO rose 6% to close at 9.78.

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