Volatility pops at the close

Whilst equities built gains across the day, the VIX naturally melted lower, falling into the 11s for the second consecutive day. With a micro pop into the close, VIX settled +1.0% @ 12.03. Near term outlook is for VIX to remain within the 14/11 zone, although 10s now seem viable.


VIX'daily3

VIX, weekly

Summary

So..another day of VIX 11s, and now the issue is 'just how crazy low can the VIX go?'

The 10s seem very possible, if sp'1910/20s into early June.

However, how about single digit VIX before the current multi-month wave (from Oct'2011) is complete?
--

more later...on the indexes