Volatility fails to hold gains

Despite US equities closing moderately lower, the VIX was unable to hold minor gains, settling -0.7% @ 14.13. Near term outlook is for the VIX to continue declining into the 12/11s. The 10s.. even 9s are briefly viable if sp'2000s.


VIX'60min

VIX'daily3

Summary

*a notable third consecutive daily decline for the VIX
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Price structure is a bear flag on the hourly chart - as a near mirror of the bull flag on the hourly equity charts. VIX looks set for further downside... whilst the indexes push another 1-2% higher
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more later.. on the indexes