Volatility..fractionally higher

The VIX closed higher by a little over 1%, to settle in the low 14s.


VIX'60min

VIX'daily

Summary

Its arguably there is a possible bull flag on the hourly chart, and with the daily VIX MACD cycle now ticking upward, the bias is towards at least a few days higher.

First VIX target is 15, and then 16.50.

Considering the near total lack of response in the Dow/SP' today - despite the transports getting destroyed, I'd guess the VIX won't even break into the 17/18s next week.

For the bears, this has to be a very disappointing day.

Closing Brief

A very tiresome day of near nothing. Despite the transports getting destroyed, everything else is holding up very well. The VIX continues to show a fearless market.


sp'60min

transports'60min

Summary

The main indexes are now completely disconnected from the 'old leader'. Whilst earnings warnings/downgrades continue to appear, the main market is able to just ignore it.

*with tomorrow being opex, I guess it'll be mostly a chop fest. I can't imagine any clear direction either way. No point anyone taking any new positions until next week.

A little more later.

3pm update - back to the doldrums

Another day where the opening minor declines decay away to next to nothing. Aside from the transports, there is nothing going on again.


sp'daily5

Trans, daily

Summary

I'm starting to get real tired of this again!

More after the close