Volatility fractionally lower

With the main indexes climbing moderately again, the VIX was naturally unable to rally, and closed fractionally lower, -0.7% @ 14.78. Daily charts are offering no turn in the VIX, and the 12s could easily be hit within the next week or two.


VIX'60min

VIX'daily3

Summary

Little to add, other than whilst the main market holds together, the VIX looks set to relentlessly melt lower. As we've seen a number of times this year, this 'melt lower' phase could last for some weeks.

VIX 12/11s look very viable later this month, not least if the market makes an attempt to break the May'22 high of sp'1687.

As many recognise, it remains an incredibly fearless market.

more later...on the indexes