With the main indexes closing slightly higher, the VIX remained weak, and settled +0.3% @ 14.06 - having earlier fallen to 13.58. If the main market begins a new rally into October, the VIX looks set to slip further, into the 12s, perhaps even the 11s, if sp'1750/75.
Another day where the VIX slipped into the 13s, even though the market was generally weak.
It remains a fearless market, and that is pretty surprising considering the recent 5 day equity down wave (the first since Dec'2012).
Best guess, equities look set for a new wave higher, with a target of sp'1750/75 by late Oct/early Nov, and that should be enough to kick the VIX into the 12s, if not even the 11s.
This is simply not bear weather.
more later..on the indexes