VIX lower for a fourth week

Whilst equities ended the week on a very positive note, the VIX saw a somewhat mixed day, settling +0.1% @ 14.46 (intra low 13.24). Near term outlook is for further equity upside into the next FOMC of Oct'28th, before a retrace is possible. However, VIX 20s look out of range for the remainder of October.


VIX'daily3

VIX'weekly

Summary

*a net weekly decline of -3.9%
--

Suffice to add... today saw another new cycle low, and there seems little reason why we won't see the 12s next Tue/Wed... if briefly.

On balance, an equity retrace looks increasingly probable from next Wed/Thursday onward.. but it won't likely be particularly significant. Right now.. VIX 20s look out of range in the next equity down cycle.

-
*I have ZERO interest in being long volatility for the remainder of the year.
--

more later.... on the indexes