Volatility ends the week in the 13s

With the sp' breaking into the 1740s - a level that seemed 'difficult by year end' just last week, the VIX ended the week -3.3% @ 13.04, after a morning low of 12.34. Across the week, the VIX declined by 17%, with the VIX now almost 50% lower from just 8 trading days ago.


VIX'60min

VIX'daily3

VIX'weekly

Summary

A mere two weeks ago the question was whether the equity bears could achieve a weekly VIX close in the 20s - which would have been a major achievement.

Here we are, with a VIX weekly close in the 13s, having broken back into the 12s earlier today.  It is a huge failure for the bears, and based on previous cycles, it will likely be some months before the next VIX spike.

I have to now assume that the summer 2012 VIX high of 27 will not be surpassed in the remainder of the year.
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more later..on the indexes

Closing Brief

The main indexes battled higher into the weekend, with the sp +11pts @ 1744. The two leaders - Trans/R2K, closed up 1.2% and 1.1% respectively. The outlook for the rest of the year looks very bullish..and the bigger monthly cycles are showing increasingly bullish price momentum.


sp'60min

Summary

For many, it was another very tough week. No doubt more posters and traders of the bearish persuasion will have thrown in the towel this week.

Considering the bigger weekly and monthly cycles - which are both back to outright bullish, I can only conclude we are headed higher....much higher.

Have a good weekend
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*the weekend post will be on the US weekly index cycles

3pm update - 4000 posts before sp'4000

The main indexes are battling for a powerful weekly close, with gains of 2.5% for most indexes. The VIX has recovered from the early low of 12.34, now at 13.25. Yet..the VIX is to be dismissed now. The market looks set for further gains in the weeks..and months ahead.


sp'weekly8 - mid term bullish outlook

Summary

It has been one hell of a week...

The political drama has ended (at least for a few months). Normal service has resumed. The QE continues.

...the market is rallying, and will keep rallying until the QE fuel stops.

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This is the 4000th post since I joined the party 18 months ago. I can only hope I'll make it to the big 10k..and where will the sp' be then ? How about 4K?
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I think GOOG says everything we need to know about the current market state...

GOOG, monthly, 10yr

A huge gain on what are good profit margins..and likely very significant continued growth in the years ahead.
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3.25pm...sp'1742, pretty incredible really, but last weeks closing weekly spike-floor candles were warning of a turn. The only thing that really needs to catch up is the Dow.

Equity bulls should be seeking a weekly close in the 15800s this Nov/Dec. That should be enough to confirm much higher levels.

Dow, weekly.

*Clown finance TV going all out to celebrate their 'Queen cheer leader'. Similarly, Mr Market has come a long way since the early 1990s.