Volatility not reflecting any concern

Despite the sp'500 slipping to 2004 in late morning, the VIX struggled to even hold gains of 1-2% (intra high 21.37). With equities swinging back higher.. the VIX melted lower, settling -5.1% @ 19.89. Equities look set to jump higher after the ECB this Thursday... which should see the VIX begin a trip to the low teens.


VIX'daily3

Summary

*second consecutive daily fall in the VIX... settling back under the key 20 threshold.
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VIX appears to have hit a wall in the low 20s. I realise some would call it mere consolidation before another jump higher, but it would be truly surprising if the VIX broke into the mid/upper 20s.

Right now, it will take a mute Draghi this Thursday to cause serious market upset.
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more later... on the indexes