Having closed last Friday with moderate gains, the VIX started the week back on the slide.. settling -6.3% @ 12.32. Near term outlook is for the 11/10s... the only remaining issue is whether single digit VIX if sp'2000s.
*the sixth net daily decline... from 7 days.
VIX looks set to remain subdued for some weeks, the big 20 threshold looks unlikely to be surpassed no earlier than October.
Daily MACD (blue bar histogram) cycle has not been this low since mid February... but it can easily remain at these low levels for some weeks.
Best case for equity bears this week, a gap fill in the VIX 15s, but that probably only equates to sp' in the mid 1950s... where the 50 day MA is lurking.
more later... on the indexes