Whilst US equities saw a day of nano scale price action, the VIX naturally melted lower into the holiday break, settling -4.6% @ 15.19. Near term outlook offers further equity upside into the sp'2100s... and that will likely equate to VIX going sub-teens in early December.
The equity market was naturally very subdued, and in such cases, the VIX melting lower was not at all surprising.
VIX looks set to remain broadly subdued.. and likely hit the 12/11s... before year end. The only issue is whether we'll see another brief burst to test the key 20 threshold.
As things are... both such events are not mutually exclusive.
more later... on the indexes