VIX cools into the Easter weekend

With US equities holding moderate gains for much of the day, the VIX remained subdued (intra low 14.27), settling -2.9% @ 14.67. Near term outlook offers a break of the sp'2039 low, which should be enough to break above the VIX double high of 17.19... into the low 20s.


VIX'daily3

VIX'weekly

Summary

*VIX saw a net weekly decline of -2.6%
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Little to add.

Even if the equity market can see another down wave next week - breaking the recent low of sp'2039, VIX will likely only be able to briefly break into the low 20s.

Things would only get interesting in VIX land on a break of the sp'500 200dma, which will be in the 2013/15 zone next week. Such a break would offer the sp'1960/40 zone... which would equate to VIX in the mid/upper 20s.. but that remains a very unlikely scenario.

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more later... on the indexes