Volatility battles into the low teens

With the sp' failing to hold 1830, the market slipped lower into the close, with the VIX managing its first significant gain in some weeks, settling +9.4% @ 13.28. It is particularly notable that the VIX was trading in the 11s in the morning session.


vix'60min

vix'daily3

Summary

Today sure turned out a lot more dynamic that originally expected. Despite marginally lower indexes in the morning the VIX had broken into the 11s.

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Baring a break <sp'1810/00, the VIX looks set to remain in the mid/low teens for some weeks..perhaps even the bulk of the spring.

Today's gain was interesting but still...VIX 13s are nothing for the equity bears to get excited about. The 20s do not look viable for some considerable time to come.

more later..on the indexes