Volatility a touch higher

With the main indexes closing moderately lower, the VIX naturally closed a little to the upside, settling  +1.8% @ 13.75. Near term, the VIX looks set to remain in the low/mid teens. Certainly, if the main equity market can hold above sp'1700, VIX will remain <20 for the remainder of the year.


VIX'60min

VIX'daily3

Summary

*some notable 'kooky spikes' on today's charts - no doubt, an algo-bot went 'crazy' a few times, but the exchanges might erase those spikes in the next day or two.
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VIX looks set to remain in the low/mid teens in the near term, even if the sp' can manage some weakness to the low 1730s.

I certainly can't see the VIX breaking above the key 20 threshold any time soon, and probably not until mid/late Jan' of 2014.
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more later..on those indexes

Closing Brief

The main indexes closed moderately lower, with the sp -8pts @ 1763, having earlier peaked at a new high of 1775. The two leaders - Trans/R2K, saw particular weakness, closing -0.6% and -1.5% respectively. Near term weakness to the sp'1730s seems viable, before another wave higher.


sp'60min

Summary

Well, that's another FOMC out of the way..just one more left of this year (Wed' Dec'18)..and I sure don't expect any change then either.

Equity bulls have QE fuel of $85bn until at least early 2014..and 'significant QE' across ALL of next year.

Frankly, all those expecting (or rather...hoping) for a major decline before year end..just need to take a serious break.
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The usual bits and pieces across the evening...
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UPDATE 4.10pm

FB soars 15%, +$7..to the 56/57s, on much better earnings.


4.58pm... FB cooling down a bit.. +$4 @ $53.50, that is still a significant gain of 8/9%. I'd have to guess it'll be trading in the 54/55s tomorrow morning.


5.42pm.. FB is upsetting a few in the earnings call, the stock has lost all the gains..and even flipped moderately red into the $48s.

Still, the numbers were good, but the earlier high of 56/57 now looks a very long way up..and unattainable tomorrow.

3pm update - closing hour weakness

The main indexes are moderately lower, after the FOMC decided to change nothing (such a surprise!). It would seem reasonable to look for the sp' to slip lower to the 1730s across the next few 2-4 trading days, before renewed powerful upside across Nov/Dec.


sp'60min

VIX'60min

Summary

*the spikes on the VIX remain odd. It'd seem an algo-bot went crazy, and put out a VIX quote matching the recent high in the 21s.
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With the FOMC out of the way, things are again clearer..and simpler.

1775 looks to be the immediate term top...with a minor retracement, down to around 1730. On any basis..sub 1700s do NOT look viable in the near term...nor..the remainder of the year.
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Interesting action in the metals...with conflicting short/mid/long term cycles.
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3.14pm.. FB earnings at the close...currently -1%

FB, daily

Hard to call this one, but broad trend is clearly to the upside.
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3.32pm.. sp'1664, and despite the 'we're off the lows of the day' mantra on clown finance TV, market does look set for a few percent lower.

Regardless of any fall of 1% or so tomorrow, the big monthly index charts will close the month bullish.

*NFLX and TSLA having problems. The latter looks doomed to $110/100.. one to watch!
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3.43pm...Equity bears can note the weakness in the two leaders , trans/R2K, both down around 1%.

The headline indexes should follow tomorrow/Friday. Target remains sp'1730s.

back at the close :)