Volatility melts into the weekend

With further equity gains, the VIX naturally melted lower into the weekend, settling -4.5% @ 15.74. Across the week, the VIX declined 6%, having earlier peaked at 21.34. Once again the equity bears have failed to get a VIX weekly close in the 20s. Next attempt seems viable in mid November.


VIX'60min

VIX'daily3

VIX'weekly

Summary

The weekly closing candle says it all. Another failed attempt to break the 200 weekly MA. For the equity bears out there, this is just a series of deep disappointments since the broad rally started in Oct'2011.

No doubt..at some point we're going to see the VIX soar into the 30s, 40s..even higher. Yet, until we get that close in the 20s...equity bears simply can't be confident of anything significant in the near term.

Again, keep in mind that the 2012 VIX high was 27s, and it is again doubtful that we'll be able to match that in the remainder of this year.
--

more later..on those bullish indexes