Volatility..falls again

Early morning jitters about the lack of Fed action only saw the VIX briefly climb 2%. The close was a lousy -3%, and VIX remains bizarrely low.


VIX, 60min

VIX, daily, rainbow

Still no blue candle yet..bears can't get excited yet.


VIX, weekly

Summary

Nothing too dramatic today, just minor declines. We are getting real close to the floor. It might even have been put in today, but I'm guessing at least one more move lower.

Some will be looking for a brief drop outside the lower bollinger band..a red reversal candle..and then UP we go!

The big weekly chart outlook looks fine...VIX should explode into the 30s/40s this August.