Volatility falls into the weekend

Despite the main equity indexes remaining weak across the day, the VIX still failed to close with a gain, making five consecutive daily declines. The VIX closed -1.5% @ 12.06. This remains a market that is utterly complacent, despite a great many looming threats.


VIX'60min

VIX'daily3

Summary

So, the fifth daily decline in a row, and the VIX is back on the border of breaking into the 11s. Its truly incredible. I  have to wonder again, just what is necessary in order that the VIX break into the 20s again?

Underlying MACD (blue bar histogram) did turn up intra-day, but by the close, it was still ticking lower.

I'd have to believe, we'll see a conclusive VIX turn to the upside by next Tue/Wednesday at the latest. First target is a very reasonable 14/15.

What will indeed be difficult, is to break into those upper teens, and more importantly, the big VIX 20 threshold.

a little more later, on the indexes