Volatility smacked lower into the weekend

With the main indexes holding together - despite two prominent earnings misses, the VIX continued to decline. There was the usual extra smack down into the weekend, with the VIX closing -8.9% @ 12.54. Across the week, the VIX declined by 9.4%    


VIX'60min

VIX'daily3

VIX'weekly

Summary

The market is back into effectively 'no fear' mode, with the VIX back in the mid 12s...absolutely incredible. 

This was the fourth consecutive week lower for the VIX, and that naturally matches with the four week rally in equities.

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For the equity bulls out there, one thing to look for across the rest of July - and possibly early August, is whether the VIX can take out the March'14 low of 11.05.

VIX 10s look 'difficult' to hit, but for those doomer bears seeking a grand cyclical top, perhaps VIX 10s would be a key spike-low?
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more later..on the indexers