Volatility cooling back down

With the main indexes rallying into the weekend, the VIX closed the week with rather significant declines of 14.75%, settling @ 14.97. Across the week, the VIX still managed gains of 24%. VIX looks set for further moderate weakness, before a renewed surge late next week into the 20s.


VIX'60min

VIX'daily3

VIX'weekly

Summary

As expected, the VIX slipped lower into the weekend - especially in the closing hour. Yet, the weekly gain of 24% was impressive, and it bodes well for the next six trading weeks.

Near term outlook is for VIX to slip a little lower. I suppose 13s are viable - which is frankly quite bizarre when you consider the recent surges into the 17/18s.

So,...the outlook is...

Mon/Tue...sp'1570, VIX 14/13s....
Wednesday - a turn lower, sub wave'1

By late Friday, I think there is the very real chance that VIX will break into the low 20s. Its hard to guess where the indexes might be, but sp' 1520/00 would be a very valid target by next Friday - or the following Monday of April'29.

more later..on the indexes