Volatility remains low

Despite equity weakness in the morning, the VIX only managed a peak gain of around 5% to 15.64, but as usual, there was a latter day equity recovery, with the VIX settling -2.2% @ 14.47. Near term outlook is for the VIX to remain in the 15/12 zone.


VIX'60min

VIX'daily3

Summary

Little to add...

However, it was notable that we saw another classic instance where the opening black-fail candle was a warning to the equity bears that the market was flooring in the early morning.
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more later...on the indexes