Volatility back in the twilight zone

With chronically low trading volume, the algo-bots are in total control, and it is the default 'melt upward' action that is going to kill the VIX lower across the entire week. VIX closed slightly lower, -1.5% @ 12.66 Baring some 'major news/event', volatility looks set to stay low across the summer.


VIX'60min

VIX'daily3

Summary

So, VIX is in the 12s, and the 11s look a given at some point this week.

The only issue is whether we see 10s, which I think would be the lowest level since Spring 2007.
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In fact, the grander issue of the summer is arguably whether we'll see VIX <10, before this relentless equity rally from Oct'2011 is complete.
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more later..on those melting indexes