With equities climbing for the third consecutive day, the VIX melted significantly lower, settling -15.6% @ 18.57. Near term VIX outlook is bearish, with equities seemingly headed for a straight up move to sp'1920/50 zone, before resuming strongly lower.
VIX'daily3
Summary
Suffice to say... the third consecutive daily decline for the VIX, and the 31s now look a very... very long way up.
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I certainly don't expect a return to the 30s until the latter half of November.
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more later... on the indexes