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Investors have spent several months deciphering the mixed signals from the U.S. economy, and yet the S&P 500 has kept moving higher, slowly but surely, putting it just shy of the 2,000 mark.With its Friday close, the S&P would need just a 2.5 percent gain to vault the 2K level – something most did not expect during the depths of the Great Recession. The S&P 500 has not made a 1 percent move in a single session in almost two months, and the CBOE Volatility Index, the market's favored gauge of anxiety, fell below 11 Friday, for its lowest close since 2007 .Realized volatility for the S&P in the last 10 days has been a bit more than 4 percent, which theoretically makes the VIX expensive, not cheap.
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