Volatility in the low 13s

With equities rising for a third day, the VIX continued to melt lower, settling -5.6% @ 13.10. Hourly VIX cycle looks floored, but this was seemingly the case yesterday. VIX remains crushed, in a market that has little concern about anything.


VIX'60min

VIX'daily3

Summary

Equity bears need to see a VIX daily close in the 16s, just to offer any hope of any major downside action, and with sp'1885, that no longer looks viable in the near term.  With VIX closing in the 13s, the only issue is whether the VIX floors in the 12s, 11s...or even lower.

With new index highs in the sp'500 and the Transports, equity bears look utterly beaten.

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more later..on the indexes