Volatility falls into the weekend

With price momentum generally starting to swing back to the bulls, the VIX significantly cooled down, closing -7.8% @ 18.90. A gap-fill in the upper 16s looks very possible next Mon/Tuesday, before a further surge into the mid 20s, possibly low 30s, with sp'1550/30s.


VIX'60min

VIX'daily3

VIX'weekly

Summary

For the equity bears, it was a relatively good week. Perhaps the most important achievement was the VIX breaking back into the 20s - for the first time since last December.

Even though the VIX closed the week somewhat weak, that is arguably an understandable retracement.

A further VIX decline seems likely early next week, before a much stronger surge, whilst the sp' declines to 1550/30s - which does indeed appear possible as early as the latter part of next week.

more later...on the indexes