Volatility ground lower

Despite opening a little higher (intra high 14.53) the VIX cooled right from the open. With equities building gains across the day, the VIX was ground significantly lower, settling -9.8% @ 12.73. Near term outlook is for VIX to broadly slip lower into the weekend.


VIX'60min

VIX'daily3

Summary

*the gap zone in the 15s now looks out of range, since the low sp'1970s no longer look viable.
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Today was a rather classic instance where the VIX opened higher, but immediately the smaller 5/15/60min candle turned black - a real warning sign to the equity bears to 'make a run for it'.

All things considered, VIX might spike a little tomorrow afternoon with the FOMC...but I no longer expect the 15s.
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more later... on the indexes