Volatility melts into the weekend

With the main indexes closing moderately higher, the VIX naturally melted lower into the weekend, with the VIX closing -5.1% @ 16.76. Across the week, the VIX gained 8.4%, having peaked on Thursday at upper bollinger resistance of 18.71.


vix'60min

vix'daily3

vix'weekly

Summary

Net gains on the week for the VIX, but the closing weekly candle is a black-fail candle..and does not bode well for the equity bears.

As have been the case since autumn 2011, the market remains supremely confident, and the bears simply can't get a weekly VIX close above the important 200 weekly MA.

Considering the Friday equity price action, VIX in the 20s is again looking a tough challenge.
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more later..on the indexes