The VIX closed in the mid 13s, this is truly freaky to behold, and there is absolutely no sign of fear in this market for at least the near term. In fact, its almost like we're back to the 2006 property bubble mood again.
The big VIX weekly cycle shows no sign of a turn higher. We've seen an eleven week decline, and todays close doesn't bode well for next week either.
Again the question has to be asked, where will the VIX floor? 12s seem imminent next Monday - with the Sp' testing 1422.
The once unthinkable VIX falling below <10, thats really not too far away now. Maybe a few bullish comments by the Bernanke at Jackson hole can achieve such a bullish feat?
But thats fine though, the economy is all fixed, right?
*It is notable that VIX futures for early 2013 are in the mid 20s, although that is not exactly too unusual.