VIX lower for a seventh day

With equities continuing to climb, the VIX naturally continues to slip. This was a notable seventh consecutive daily decline for the VIX (close to a record?), settling -4.0% @ 13.57   Across the week, the VIX declined by a very significant -11.2% .


VIX'60min

VIX'daily3

VIX'weekly

Summary

Last weeks giant red candle has been confirmed with a further significant decline.

Based on previous cycles, the VIX will likely remain low for at least another 4-6 weeks.

*if anyone knows what the record for consecutive daily declines on the VIX is, let me know! I have to wonder, if equities rally on Tuesday, with the VIX lower for an eighth day, that would probably be a record.
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more later..on the indexes

Closing Brief

US indexes closed the week with further gains, sp +8pts @ 1838. The two leaders - Trans/R2K, settled higher by 0.3% and 0.1% respectively. Near term outlook is bullish across next week, if not most of March. VIX confirmed a market that is now very comfortable with a new Fed chair.


sp'60min

Summary

What to say?

The bulls got the follow through from last weeks turn, with 1737, now over 100pts lower...amazing!
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Have a good..and long weekend everyone.
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*the weekend post will be on the US weekly indexes

3pm update - green confirms the blue

The sp'500 is set to close the week with net gains of around 2.4%. The weekly green candle on the 'rainbow' (elder impulse) chart is absolute confirmation that last week was indeed a turn - with a blue candle. Simply put....there are more green candles coming, taking us into mid/late March.


sp'weekly8

Summary

Chart weekly'8 has been - to my own surprise, correct since last summer.

For those regular readers out there.. you will know my original outlook was for 'broad upside into late spring 2014'.

Well, we ain't got much longer to wait. Another 4-6 weeks..and this nonsense might be finally wrapped up - at least for a few months.
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back at the close.