Volatility flat for the week

With the equity indexes breaking to new highs, the VIX got slammed back lower across the day, closing -9.7% @ 12.90. This entirely negated all of the earlier gains built in the week, and the VIX closed flat for the week. The VIX bulls should be concerned that the low of 12.29 is now in jeopardy.


VIX'60min

VIX'daily

VIX'weekly

Summary

So...the market managed to break sp'1509, and with a little follow through, we hit 1514.41. Naturally, this lead to the VIX being slammed lower by over 10%, and the daily/weekly close in the 12s is a major disappointment.

It took 4 days to climb from around 12.50 to almost 14.50..but only a few hours to bring it all the way back down. Urghh.

Those hoping for an index retracement - with VIX filling the 16-18 gap zone, are right back to the beginning.

As things are, there is NO sign that the bears can seize control of this market for more than a day or two, and even then, they can't manage more than 0.5-0.75% lower.

more later..on the indexes