Whilst the main US equity indexes closed mixed, general market volatility continues to slowly decline. The VIX closed -4.5% @ 12.67. This remains a remarkably complacent market, but then..the Fed has the markets back. What is there to fear?
*first..I want to highlight the usual closing minutes action. Often is the case, Mr Market will whack the VIX lower in the last few minutes - or in the 15 mins of AH action. Today was a classic.
There is little to add. VIX looks set to remain very low for the remainder of the year. Certainly, I do not see VIX 20s until mid/late Jan' 2014.
more later...on the indexes