Monday, 2 November 2015

VIX back in cooling mode

With equities breaking new cycle highs of sp'2106, the VIX was naturally back in cooling mode, settling -6.1% @ 14.15 (intra low 13.67). Near term outlook remains of an equity retrace being due.. but for now... there is no definitive sign of a short term market top.




Equities opened higher.. but so did the VIX.. breaking an early high of 15.51.

However, the opening black-fail hourly candle in the VIX was the tell.. and that did indeed mark the top of the day.

Next level in the VIX is the FOMC low of 12.80.

I still don't think that will be breached... but we are already very close.

more later... on the indexes