Volatility melts across the week

Despite a touch of weakness into the weekly/monthly close, the VIX still continued to broadly slide, settling -2.5% @ 13.56 (intra low 13.29). VIX declined for the fourth consecutive week, with a net weekly decline of -5.2%.


VIX'daily3

VIX'weekly

Summary

*first upside break/target for the equity bears next Monday will be a daily close in the 14s. That is well within range, and looks due.
--

So.. a fourth week lower for the VIX, and the early Feb' high of 22.81 now looks a very long way up.

Sustained trading in the low 20s looks unlikely for some months.

At best... the 17/19s by next Wed/Thursday... which would equate to sp'2060s, where there are multiple aspects of support.
--

more later... on the indexes