Volatility still weak

Whilst the main markets had a choppy trading day, and closing flat, the VIX itself closed a little lower, -1% @ 15.08. This remains a bizarrely low VIX, at a time when the politicians seem not particularly in a rush to delay the tax rises/spending cuts. The clock is ticking.


VIX'60min

VIX'daily

Summary

There is not much to say really, VIX remains low, and until its back above 20, the moves are still very unreliable.

At some point the VIX will explode. If my wave count is correct for the indexes (see Sp'daily4), then VIX should break above 20 no later than early January*

*I am open to a major decline beginning next week, however, the seasonal 'Santa rally' is a factor that might delay the next wave lower. Bears need to be careful not to get damaged by the Santa.