Several measures of Wall Street sentiment peaked this year and rolled over without a corresponding pullback in the stock market, underlining the faultiness of metrics used for timing the market that have so far consistently betrayed Wall Street investors. The S&P 500 SPX, -0.09% which closed at 2.582.28 on Friday recorded its first weekly loss in nine weeks. Despite recent modest selling, the benchmark index is still less than half a percentage point below its peak set Wednesday. As of Nov. 10, the S&P 500 has gone without a 3% pullback for 12 months and the 12-month rolling average implied volatility, as measured by the CBOE Volatility index VIX, +1.42% has been at record lows, closing at 11.29 on Friday, nearly half its historic average at around 20. In fact, over the past 12 months, the largest decline on the S&P 500 from peak to trough was 2.8%.via