Tuesday 10 December 2013

Volatility manages a small gain

Whilst equities saw general minor weakness across the day, the VIX battled hard to hold minor gains, settling +3.1% @ 13.91. Near term outlook is for the VIX to remain within the 15-11 range. VIX looks unlikely to break into the 20s until at least late January.


VIX'60min


VIX'daily3


Summary

*the closing black-fail candle on the daily chart should concern the equity bears, with real threat of the sp'1820s by late Thursday.
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Little to add. VIX remains low..choppy...and likely to melt lower, the closer we get to what is usually a sleepy holiday trading period.
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*Next weeks FOMC is after Dec' opex, and even then, I don't expect anything above the mid teens..if at all.

more later..on the indexes