Volatility falls into the weekend

With the indexes closing moderately higher, the VIX saw a very clear 5 micro-waves lower across the day. The VIX closed -8.2%, to settle the week @  12.46. There was a minor recovery spike higher in the brief 15mins of after hours trading.


VIX'5min - 5 waves on Friday

VIX'60min

VIX'daily

VIX'weekly

Summary

I really liked watching the VIX today, it put in what some might agree was a very clear 5 wave decline - seen best on the 5 minute chart. Even the last hour of trading looked very clear, with a nice rollover, and what I am guessing was a final fifth micro-wave lower..and thats where I jumped back onboard!


Back onboard the VIX train

I picked up a March VIX call block in the closing hour. Having exited my Jan Call block when VIX was 22.20 on Monday Dec'31st, I am very content with my re-entry in the VIX 12s. On any basis, it seems like a very reasonable level to be back in at.

I suppose we could trade into the 11s (briefly) next week, but I really only see that happening if the SP' somehow breaks into the sp'1500s, and I don't expect that until after a much needed index retracement.

More later..on the indexes.