Volatility crushed lower

With US equities building gains across the day, the VIX was crushed, settling lower by a severe -17.5% @ 19.44. Near term outlook is for VIX to melt lower into year end.. if not much of January. The low teens, perhaps even VIX 10s are possible if sp'2100s.


VIX'daily3

VIX, weekly

Summary

We have a clear turn in both equities.. and the VIX. The VIX has clearly got stuck in the secondary target zone of 22/25... and with a daily close under the key 20 threshold... there is no doubt now.

VIX looks set to fall for the rest of the year..... and remain subdued for much of January.

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more later... on the indexes