Volatility on the slide again

After five days of trying, the bulls managed to hold onto index gains of around 1%, and the VIX responded with a major fall, closing 10% lower in the mid 16s.


VIX'60min

VIX'daily

Summary

For those seeking much more dynamic market action - not least to the downside, today's significant VIX drop is a massive disappointment.

The bull flag - that seemed somewhat confirmed yesterday, has now been entirely negated.

There is nothing now that suggest the indexes are going lower in the immediate term. Quite the contrary in fact, and with the US election next week, we could be looking at sub-teen VIX later this month.

Truly astounding, when you consider the 'big issues' out there.