Friday 24 May 2013

Volatility higher across the week

With the main indexes battling back upward across the day, the VIX again failed to hold moderate opening gains. The VIX was further whacked lower at the close, settling -0.6% @ 13.99. Across the week, the VIX gained 12%, but remains at bizarrely low levels.


VIX'60min


VIX'daily3



VIX'weekly


Summary

So...net gains for the week of 12%, but we're still only talking about VIX in the low teens. It remains a very complacent market, with almost zero concern about ANY of the large and frankly..terrifying macro-economic problems out there.

Looking ahead to Tuesday, VIX might well open lower...hourly charts are suggestive of the 13.70/50 range. I don't think 12s are likely in the immediate term.

Best equity bear upside for the VIX, looks to be the 16s. Certainly, VIX 20s look well out of range for some weeks, if not months.

a little more later...