Volatility fails to hold the morning gains

With the main indexes recovering very strongly across the day, the VIX failed to hold the morning gains. Having peaked at 17.74, the VIX settled higher by just +2.2% @ 16.07. Despite uncertainty about the US shutdown/debt ceiling, the market simply doesn't take it seriously.


VIX'60min

VIX'daily3

Summary

All things considered, the VIX is remarkably low, considering there is still no agreement to raise the debt ceiling..never mind ending the (if limited) US Govt. shutdown.

From the perspective of 'Mr Market', it simply does not believe a US default is viable.

I agree!
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more later..on the indexes