Volatility melts into the weekend

With the main indexes building gains across the entire day, market volatility is back on the slide, with the VIX settling -7.3% @ 12.90. Across the week, the VIX declined by -2.9%. The VIX looks set to remain under the key 20 threshold for the remainder of this year.


VIX'60min

VIX'daily3

VIX'weekly

Summary

Even yesterday when the market was sp'-23pts, the VIX could not even manage a daily close in the 14s. With today's full reversal net gain of sp+23pts, the VIX closed the week in the 12s

Even the closing hour saw the usual 'whack the VIX lower into the weekend' behaviour.
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On almost any outlook, VIX looks set to remain under the key 20 threshold for the remainder of this year. The first real opportunity of some significant equity downside looks to be late Jan/early Feb'2014 - when we have the debt ceiling issue again.

more later...on the indexes