Volatility slightly higher

The equity market saw a rather quiet day. Meanwhile, in VIX land, volatility was higher for almost the entire day, closing +2% @ 15.44. However, such tiny moves are to be considered as 'mere noise', with the VIX remaining at what is a bizarrely complacent level.


VIX'60min

VIX'daily3

Summary

Today's move was so minor, that very little can be discerned from it.

What is clear though, the daily MACD (blue bar histogram) ticked lower for a third day, and looks set to go negative cycle by late Tuesday or Wednesday.

Bears have a real problem with the VIX daily trend like this.

VIX in the 14s looks a given this week, the only issue seems to be whether it can also break into the 13s - with SP >1687.
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more later, on the indexes