VIX back in the 16s

With the main indexes closing moderately lower, the VIX managed to hold minor gains of 6.8%, settling @ 16.60. Despite the continuing US Govt' shutdown, the market remains relatively unconcerned. VIX still looks unlikely to break into the 20s in the near term.


vix'60min

vix'daily3

Summary

Unless the VIX can break above the Monday opening spike high of 17.49, equity bears look to be fighting a losing battle - at least for a few weeks.

The morning open, with the sp' testing ...successfully the 50 day MA, was an important victory for the bulls, and sets up a break into the sp'1700s either tomorrow or Friday.

Indeed, any weekly close of sp'1693 or higher, and the weekly charts will remain outright bullish.

more later..on the indexes