Volatility slips lower

With the main indexes closing somewhat mixed, the VIX itself traded within an extremely narrow range today. From minor gains of +1%...the VIX closed -2.3% @ 12.64. The VIX is now very close to the 11s, which would again be a reflection of what remains a fearless market.


VIX'60min

VIX'daily3

Summary

The VIX hourly chart remains an utter mess. I don't think I've ever seen a more directionless VIX.

The daily VIX chart illustrates how after a small rally to the upper 14s..the VIX is almost right back to where it started.

I suppose some could say that the VIX is holding a higher low, whilst the indexes are pushing to higher highs, but really.. no. I can't consider anything like that as remotely suggesting the VIX is going to surge in the near term.

As things are, the VIX doesn't even look like its going to break into the lower end of the 16-18 gap zone. Perhaps equity bears will have to wait until late April/May ?

more later..on the indexes