With equities closing the year on a rather bearish note, the VIX battled moderately upward, settling +5.3% @ 18.21. The bigger equity picture is increasingly bearish, and regardless of any equity upside in early January, the broader picture favours upside action in the VIX.
*a net weekly gain of a very significant 15.7%
It is notable that today was the fourth net daily gain of the past five days.
The highest print of the day was 20.39, but I am dismissing it on the notion of it being a 'rogue print'.
more later... on the indexes