Wednesday 10 April 2013

Volatility slips lower yet again

With the sp'500 breaking into the historic territory of the 1580s, the VIX naturally was pressured lower. The VIX closed -3.7% @ 12.36. Near term trend looks weak, and there is a minor gap in the mid 11s that might yet get filled.


VIX'60min



VIX'daily3


Summary

The VIX briefly went fractionally green a few times, but was generally -2% across most of the day..and this is clearly not surprising considering the ramp in the main indexes.

Near term, we do have a small gap in the 11s that might get filled before the next up cycle (thanks to poster roxie' for the reminder).
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Lower bollinger on the daily is 11.33..and bears should perhaps look for a reversal candle somewhere in the mid 11s in the coming few days.

What is most notable from the last few months on the VIX, the spike highs are getting ever lower.. 23 in late Dec, then 19, and most recently, the 15s.

It remains a fearless market...but it won't forever be so...even with the Fed out there.

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more later..on the indexes