The Standard and Poors 500 index (SPX) closed Friday at 5,808, down less than two points or -0.03%. SPX opened the week at 5,858, losing nearly one percent for the week. Trading volume was flat this week.

VIX, the volatility index for the S&P 500 options, rose slightly this week, opening Monday at 18.8% and closing Friday at 20.3%. I think the election is creating some anxiety.

I track the Russell 2000 index with the IWM ETF, which closed Friday at 219, down almost a point or -0.4% on the day. IWM opened the week at 226 for a weekly loss of 3.1%. Unlike the S&P 500 and NASDAQ, this index took it on the chin, starting with a large decline on the previous Friday.

The NASDAQ Composite index closed Friday at 18,519, up 103 points or 
+0.6%. NASDAQ opened the week at 18,456, setting up a small weekly gain of 0.3%. NASDAQ matched its July high this week but could not hold it. NASDAQ’s trading volume was roughly flat this week.

I have to admit that this market has frustrated me this week. It gave me some hope last week but has challenged me every day this week. NASDAQ touched its July high on Friday but traded much lower immediately. The Russell 2000 index turned in an ugly week with a three percent loss. That is a bad sign. Those are the high beta stocks.

IBD’s market assessment continues to be “all in” with its recommended stock exposure of 80-100%.

Maybe I will increase my confidence next week, but it may require putting the election behind us to calm me and this market.