Volatility...minor chop

The VIX saw some interesting intra-day swings, having hit a high of 14.61 and an early morning low of 12.39, the VIX closed up just 1.2% @ 13.74. Near term trend looks very choppy, the daily charts offer VIX 16.0, however the big VIX 20 looks unlikely for at least another 2-3 weeks.


VIX'60min

VIX'daily3

Summary

The last six trading days in VIX land have been pretty unstable. So far, the bears are just not seeing any sustained significant gains.

Indeed, as this morning showed, the VIX can easily still drop 5-10% without too much trouble.

As it is, I can't see VIX breaking any higher than 16 this week. Perhaps the tail end of next week will offer the first chance at a challenge of the big 20 threshold, but certainly..not this side of Easter.

more later, on the indexes