Volatility remains exceptionally low

With low volume holiday trading, the main indexes melted higher, and the VIX melted a little lower, falling 1% to 15.14. A bizarrely low VIX, in a very strange and delusional market.


VIX'60min

VIX'daily

VIX'weekly

Summary

Across the week, the VIX declined by almost 8%, and we're now getting pretty close to the lows of early October.
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Near term, the VIX remains exceptionally low, and is arguably reflecting almost 100% complacency by Mr Market.

Were anything 'bad' to happen, the near term VIX would explode a very easy 25/30%, but then, that still wouldn't get it to 20. Incredible!

More later.