With the main indexes mildly rallying into the close - but closing 'mixed', the VIX slipped in the closing hour, climbing a mere 2.4%, to rest @ 15.50
There isn't much to be said on the VIX. It remains at a bizarrely low level - and is vulnerable at any time, to a giant gap higher, if there is any surprise 'comment', rumour, or whatever, that the fiscal cliff will not be largely delayed.
So, near term volatility remains cheap, but yes...further out, its actually kinda expensive - as some good articles have highlighted
More later..on the indexes.