Volatility knocked lower at the close

Whilst the main indexes held moderate gains across the day, the VIX similarly managed fractional gains. However, as we've seen happen many times in the past, the VIX was knocked lower at the very end of the day, closing -1.3% @ 12.66. Near term trend looks weak.


VIX'60min

VIX'daily3

Summary

It does look like we're back to the old 'kick the VIX lower in the last few trading minutes of the day' game. This game can last for a very long time...certainly a fair few weeks, if not months.

There is also seemingly near zero probability of VIX 20s this side of the summer.
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more later, on the indexes