Volatility crushed again

With the equity market seeing significant gains - for the third consecutive day, the VIX was crushed, settling -9.2% @ 14.18. Near term outlook is for VIX to melt lower into the 3 day Easter break. With equities looking set for another multi-week up wave, VIX will likely remain <20 until June.


VIX'60min

VIX'daily3

Summary

We have a clear break to the upside in the equity market. The multi-week down move from sp'1897 looks concluded.

VIX is therefore likely to remain subdued for a number of weeks.

Any hopes of a break into the 20s are now off the menu until late May (at the earliest), if not midl/late June.
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more later..on the indexes