Volatility closes the week flat

Despite some weakness in the main indexes in the early morning, and in the closing hour, the VIX failed to show any real strength, and closed unchanged @ 16.86. Across the week, the VIX declined by a rather significant 10.8%, but that still made for a higher high..and higher low.


VIX'60min

VIX'daily3

VIX'weekly

Summary

The VIX weekly candle sure doesn't look pretty for those seeking lower equities in July, yet...we have put in another set of 'higher highs and higher lows' for the sixth consecutive week. In many ways, that is perhaps the most bearish aspect right now.
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VIX looks floored on the hourly chart, and I will be seeking the low 18s next week. VIX 20 looks possible next week, but it sure won't be easy. It seems to take a real scare in this market to even briefly hit the low 20s.

more later..on the indexes