Volatility relentlessly sliding

With equity indexes closing higher, the VIX naturally saw the fourth consecutive daily decline, closing -2.9% @ 14.35, the lowest VIX level in six weeks. Near term trend remains weak, and VIX looks set for the 13/12s.


VIX'60min

VIX'daily3

Summary

The VIX has now lost over a third, in just 11 trading days.

The big 20 threshold now looks a very long way up, and it doesn't look likely to be hit any time soon, certainly not before mid August, but perhaps way into September.

The hourly VIX/index charts are offering a small move in the bears favour, perhaps across late Wed/Thursday, but bigger picture remains in favour of equity bulls.

For the bears out there, its a market to avoid, and just observe.

more later...on the indexes