US benchmark indices suffered one of their worst falls on Thursday. The Dow Jones Industrial Average Index or DJX dropped around 1861 points. The recovery today has been phenomenal.
Dow Jones is so far up by 773 points since today’s open. S&P 500 is up by 2.5%, and the technology-dominated NASDAQ is also up by 2.5%.
Dow Jones (DJX), S&P 500 (SPX) pose substantial gains
Investors quickly jumped in the opportunity of buying the dip. Big players understand the importance of attractive valuations, and they are diving into their vast cash reserves.
Some of the stocks that are moving the markets are:
- Boeing is up by almost 10% in the first hour of market opening. It was one of the worst-hit companies yesterday. It is trading at $185.26 currently.
- Technology companies seem to be the most popular stocks today. Cisco gained 4.3% so far, and IBM is up by 3.19%.
- American Airlines is up by more than 15% today.
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Volatility Index (VIX) is going through the roof as Dow Jones moves tremendously
The VIX or Volatility Index is a measure of the Volatility of the Index. The massive drop yesterday and the sudden rise today is affecting the Volatility Index massively.
Options traders make tremendous amounts of money when the VIX increases. An increase in Volatility and hedging or safeguarding the risks allows them to make humongous profits quickly. It applies to not only stocks but Bitcoin as well.
BTCUSD tries to regain some ground
Published on: TradingView.com
The four-hour BTCUSD chart shows that Bitcoin has somewhat recovered from its decline. It is now trading 2% higher above its previous close. The RSI shows that it is not in the oversold territory anymore.
However, BTCUSD is not out of the woods, and another drop is possible. As per the dynamic support of the lower band of Bollinger Bands, BTCUSD will find support around $9,266, while the resistance level is around $9,600.
