Volatility climbs for a sixth day

Whilst the broader equity market saw minor chop across the day, the VIX broke another higher high - peaking @ 16.67 - the highest level since mid October. The VIX settled +1.1% @ 16.21. Near term outlook is looking a little toppy..a return to the 14/12 zone is expected.


VIX'60min

VIX'daily3

Summary

We have seen the VIX generally creep higher..and today was indeed another tiny bit more higher.

Certainly, baring a poorly timed QE-taper tomorrow, I don't think the upper teens..never mind a break above the key 20 threshold is viable before year end.

The Wednesday open is Dec opex in VIX...and how we close the day will be even more important. A seventh daily gain would be something extremely rare.

*It remains notable that two of the longest consecutive upside gains in the VIX, are both in the past month.
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more later...on the indexes