Volatility melts lower

With the Dow breaking a historic high, and the sp' taking out the recent 1530 high, the VIX declined, although it arguably declined slightly less than might have been expected. VIX closed -3.8%  @ 13.48. A further 2-3 weeks of slow declines in the VIX seem likely.


VIX'60min

VIX'daily3

Summary

Not much to add, aside that it is going as expected.

No VIX 20s until late April/May, and that is probably the more 'bearish' outlook. There remains a disturbing possibility that the market will just keep going into mid-summer.

We should have a much clearer idea, dependent on the price action when we're in the sp'1560s.
-

More later..on the indexes