Volatility continues to cool down

Arguably more notable than the equity gains today, was the continued fall in the VIX, which settled -9.3% @ 15.80. Near term outlook is for further declines, to the 15.00/14.50 zone..which might equate to sp'1810/15. From there, VIX looks set to again... surge.


vix'60min

vix'daily3

Summary

I should note again, there will be VERY strong resistance in the 19/20 zone - where the important 200 weekly MA is lurking.

However, if the market gets stuck around sp'1810/15 in the coming day or two..rolls over, and can then break <1765..we will see the VIX break into the 20s...for the first time since last October.

Without question, the next day or two will be offering a very attractive index re-short /VIX re-long opportunity.
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more later...on the indexes