Volatility fails to hold the morning gains

With the equity indexes seeing a latter day recovery, the VIX saw most of the morning gains evapourate, settling +3.5% @ 12.87. VIX looks set to remain in a tight 14/11 zone until the FOMC of Jan'29. VIX appears unlikely to see the 20s for some weeks..if not 3-4 months.


VIX'60min

VIX'daily3

Summary

Little to add. VIX remains low, and whilst equity bears are utterly unable to string together more than one significant down day in a row (I refer anyone to last Mon/Tuesday), VIX looks set to remain very...very low.
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more later...on the indexes