It was another day of mild index chop, and the VIX managed an early spike high of 14.03, but settled -3.8% @ 12.92. Near term outlook is for the VIX to remain in the 14/11 zone, with further index upside into mid/late May. Across the week, the VIX gained 0.1%
Little to add.
Equity bears remain weak, and this is very much reflected in a VIX that continues to struggle just to hold the low teens.
If the market pushes higher early next week into the 1890/1900s, VIX looks set to further melt lower into the 11s. The only issue for me, is whether the VIX can see 10..or even 9s, before this giant wave from Oct'2011...is finally complete.
more later..on the indexes