VIX melts lower into the weekend

With equities quietly melting higher into the Friday close, the VIX naturally slipped lower, closing -5.3% @ 13.98. Across the week, the VIX fell 2.7%. but importantly, did manage a higher high (16.56), and a higher low.


VIX'60min

VIX'daily3

VIX'weekly

Summary

As is often the case, with the equity bears exhausted, the market managed to end the week with minor gains. Laughably, once again the VIX was especially whacked an extra bit lower in the closing minutes.

My target for next Mon/Tuesday is the sp'1675/85 zone. If that is the case, the VIX will probably decline a little further, where there is a very obvious gap zone, that stretches into the low 13s.

I suppose 12s are briefly viable, but I strongly believe the market will again rollover, and then its just a matter of when...not if, the VIX will be spiking into the high teens.

VIX 20s don't look viable next week, but certainly, 'sometime' before the next FOMC of Sept'18.
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more later..on the indexes