Volatility kicked lower into the weekend

With equities closing moderately higher, the VIX failed to hold earlier fractional gains, closing -0.9% @ 14.19. Across the week, the VIX declined by -10.7%. If Mr Market can cope with the FOMC next week, then equities are set for the sp'1700s, and VIX back in the 13/12s.


VIX'60min

VIX'daily3

VIX'weekly

Summary

As expected..the VIX was whacked lower in the closing few minutes...as almost always happens.

VIX'5min

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With the VIX falling over 10% this week, the equity bears have indeed failed again.

I was long-VIX starting this week, but the bears failed from the Monday open. It would seem the market has not only filled both downside gaps in the 1680/50s, but that it will now keep rallying into October..perhaps even all the way into spring 2014.

There seems little point in considering a long-VIX trade for some weeks at least.
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more later..on the indexes