Volatility jumps into year end

With equities sliding into the yearly close, the VIX managed the third consecutive net daily gain, settling higher by a rather powerful 20.6% @ 19.20. It is notable that the VIX high for 2014 was 31.06... the highest level since late 2011.


VIX'60min

VIX'daily3

Summary

*to be clear, I was surprised at the VIX action today.... a little further upside was understandable... but the move into the upper 19s was unexpected.
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Since it is year end... lets take a look at the VIX on the giant monthly cycle

High for the year.. 31.06 (along with sp'1820).. the highest level since late 2011. Monthly bollinger bands are now very tight.. as they were across 2004-2007.
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more later... on the indexes