Volatility climbs into the weekend

US equities broke new highs in early morning, and the VIX slipped to 12.60, yet there was a very sharp intraday reversal, with the VIX settling +4.4% @ 13.96. Near term outlook is uncertain, and will be dependent on whether the bears can break <sp'1850. Across the week, the VIX declined -3.1%


VIX'60min

VIX'daily3

VIX'weekly

Summary

*it is sadly ironic for the equity bears, that despite the sharp Friday reversal, the VIX still saw a net weekly change of -3.1%.
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As I was noting across all of today, the VIX is still lacking any real upside power/kick. Until we see VIX in the upper teens/low 20s, the equity bears just can't get overly confident that a major multi-week down cycle is underway.

Right now, I do not expect the market to unravel for some weeks, probably early May.
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more later..on the indexes