Volatility down yet again

Whilst the main US indexes closed somewhat mixed, overall market volatility continues to melt lower, with the VIX closing -2% @ 12.29. Near term trend remains weak, and the VIX looks set for the 11s if sp'1700s later this week.


VIX'60min

VIX'daily3

Summary

There is little to add really. Whilst the main market remains in what is melt-mode, the VIX is similarly in melt-down mode.

VIX 11.05 was the low from March. That won't be easy to break, even if sp'1720s, but still..we'll probably come pretty close.

As some note, the VIX can stay low for a very considerable time. In the past few months, the lowest point of the cycle lasts about 2 weeks.

more later...on the indexes