With some underlying geo-political concerns, the VIX held up for most of the day, but was knocked lower into the close settling -0.6% @ 11.98. Near term outlook is for continued equity strength, which will likely keep the VIX within the 13/10 zone.
*across the week, the VIX gained a moderate 4.4% .
As is often the case, the VIX was duly knocked lower in the closing hour.. ahead of the long weekend.
VIX in the 11s remains a bizarrely low level, and reflects a market that has effectively zero fear of anything 'significantly scary' in the near term.
VIX 20s look unlikely until at least October.
more later.. on the indexes