Despite opening +6% to 14.93, with equities seeing an immediate reversal, the VIX quickly cooled, and settled lower for a fifth consecutive day, -2.0% @ 13.35. Near term outlook offers very little to equity bears/VIX bulls.. as the market appears able to ignore any bad news.
*a rather stark bearish engulfing daily candle
A classic opening black fail hourly candle in the lower end of the gap zone, and that was a clear warning to the volatility bulls that renewed cooling was due.
No doubt the VIX will pop back into the upper teens at some point... but right now.. that looks some weeks away.
more later... on the indexes