Volatility holding up

Whilst the main indexes saw a succession of micro-rallies, the VIX managed to hold together, closing fractionally higher, +0.7%, to rest @ 16.58. Considering the looming fiscal cliff, this is an insanely low VIX, and it could explode at any time.


VIX'60min

VIX'daily

Summary

I've not much to say on today, other than the flat VIX was one of only two bright spots for the bears today - the other being the bullish dollar.
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more later