Volatility melts into the weekend

With equities breaking new historic highs, volatility melted lower into the weekly close, settling -4.3% @ 13.08, the lowest daily close since the Alibaba cycle top of Sept'19th. Across the week, the VIX declined by -6.8%, the third consecutive net weekly decline.


VIX'daily3

VIX'weekly

Summary

Little to add.

If equities see a minor retrace to the 50dma - sp'1970s, a move to 18/20 looks just about possible, but the main gap zone of 23-25 is probably out of range for the rest of the year.

On no basis - even if the moon explodes, do I expect the recent high of 31.06 to be challenged for some months.
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more later... on the indexes