Volatility fractionally lower

With the broader market showing further moderate gains, the VIX closed 1% lower, to remain in the low 15s. It remains an entirely fearless market, despite the uncertainty of a US election, and the looming fiscal cliff. Incredible.


VIX'60min

VIX' daily

Summary

There is not much to say really. The VIX remains low, the intra-day action remains muted, a few percent higher, then a few percent lower..its all mere..static.

Until VIX puts in a weekly close >20, any index declines are to be entirely dismissed.