With the main indexes relentlessly climbing, the VIX continues to naturally melt lower, settling -4.75% @ 13.84 - the lowest daily close since mid August. Next support is the 13.50/00 zone, although if sp'1700s, VIX 12s look very viable early next week.
Perhaps even more so than the equity indexes, the VIX is telling the story.
The US markets are back into utter complacency mode, the only issue is whether this is the start of another giant multi-week/month ramp into the autumn..and perhaps even into spring 2014.
If the market can cope with QE-taper next Wednesday (if there is any)..then there really is no reason why equities will not just keep battling higher...with a VIX sub-teens.
I think bears had their chance in the past few days...and failed.
more later..on those relentlessly strong indexes