Thursday 1 May 2014

Volatility continues to melt lower

With US equities seeing some minor weak chop in the late afternoon, the VIX tried to hold minor gains (intraday high 13.75), but failed, closing -1.2% @ 13.25. Near term outlook is for sp'1895/1905, which should equate to VIX back in the 12/11s.


VIX'daily3


Summary

Little to add, on what was a very quiet day.
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If the market likes the jobs data tomorrow morning, indexes will jump 1% or so, and that should easily be enough to kick the VIX lower into the weekend, probably into the low 13s..even 12s.
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more later on the indexes.