Volatility falls into the weekend

Despite a brief equity upset in late morning, the VIX struggled to hold minor gains across the day, settling -2.6% @ 12.91 (intraday low 12.83). Near term outlook is for the sp'1925/50 zone, which should equate to VIX in the 12/11s. Across the week, the VIX declined -8.2%.


vix'60min

VIX'daily3

VIX'weekly

Summary

The fact the VIX broke into the 12s this morning was again testament to the near zero amount of concern in the US capital markets.

This was the lowest weekly close since early January, when sp'1850s. Considering the issues in the Ukraine, and the 'sell in May' seasonal equity issue, this is a remarkably low VIX.

At some point..in the relatively near term, VIX is going to surge back into the 20s, but right now, that doesn't seem likely until mid/late June.
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more later, on the indexes