WIth equities closing broadly higher for a third day, the VIX continued to melt lower (intra low 13.55), settling -6.4% @ 13.63, the lowest close since Apr'27th. Near term outlook is borderline, as equity price action remains bullish in the near term, and that threatens VIX 12s.
As equities have rallied from sp'2039 to 2084, the VIX has been ground down from the 16s to the 13s.
Considering a great many aspects of uncertainty, front month.. and 2nd/3rd month volatility remain at bizarrely low levels.
VIX should be sustainably above the key 20 threshold by end month, but for the moment.. its firmly stuck in the mid/low teens.
more later... on the indexes