Volatility collapses as uncertainty removed

With the Fed cutting monthly QE by $10bn, the uncertainty has been taken away, and equities soared. The VIX naturally has imploded, settling -14.9% @ 13.80. The outlook for the rest of 2013 is for the VIX to decay into the 12s..possibly even the 11s.


VIX'60min

VIX'daily3

Summary

Suffice to say...the 6 day run is over..and the VIX daily chart is offering an extremely clear bearish engulfing candle, with a break of the upward trend.

On any basis, the VIX will very likely slip further in the remainder of this week.

VIX 20s look viable no earlier than late Jan/Feb.
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more later..on the indexes