Volatility melts into the weekend

With equities appearing to have floored at sp'1925, the VIX has also turned, and melted lower into the weekend, settling -3.0% @ 12.18. Across the week, the VIX gained a rather significant 13.5%, but then, that was from the 10s.


VIX'daily3

VIX'weekly

Summary

So, a strong net weekly gain, but really, 13% of the 10s has only brought the VIX back to the 12s, and that remains a bizarrely low level.

What is even more incredible is that the new VIX 'spike highs', are sub teens!
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I'd expect the VIX to further slip lower into next Wednesday, before a possible post FOMC spike into the 14/15 zone.

I do not see VIX 20s possible until late July/early August.
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more later..on the indexes