Volatility still on the slide

With the equity markets closing broadly flat, the VIX is still in 'melt lower' mode, and closed -1% @ 14.21. Near term trend looks weak, but VIX is very susceptible to a brief gap higher, at least into the mid 15s. Anything >16 though, currently looks very unlikely this month.


VIX'60min

VIX'daily3

Summary

So....despite a touch of weakness in equities after the FOMC minutes were released, the VIX still managed to lose another 1%, although it did at least hold the 14s.

Daily charts are still generally downward, and there is still NO clear turn/levelling phase. On any basis though, the MACD (blue bar histogram) is at a severely low area, and that is one reason why I'm open to a brief VIX spike, but we may only be looking at 7-10%..at most.

more later..on those resilient equity indexes.