Volatility melts into the weekend

With equities rallying from sp'1990 to 2007, the VIX failed to hold early morning gains, settling -4.3% @ 12.09. Near term outlook is for sp'2030/50, which should equate to VIX remaining within the 13/10 zone.


VIX'daily3

VIX'weekly

Summary

*the VIX saw a second consecutive weekly gain of 0.9%.
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There is little to add. VIX remains very low, and at best, if a late Sept/early Oct' equity down wave, VIX will probably max out in the 16/18 zone.

The 20s look unlikely in the remainder of the year.
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more later... on the indexes