vix'60min
VIX'daily3
Summary
There really isn't anything much to add.
So long as equities continue to broadly climb, the VIX will remain in the low teens. The big 20 threshold doesn't look likely until April.
--
more later..on those bullish indexes
Monday, 24 February 2014
Volatility still melting lower
With equities closing with moderate gains, the VIX naturally melted lower, settling -3.1% @ 14.23, with an intraday floor of 13.97. Near term outlook is for the VIX to remain within the 15/12 zone. VIX 20s still look unlikely until April.
vix'60min
VIX'daily3
Summary
There really isn't anything much to add.
So long as equities continue to broadly climb, the VIX will remain in the low teens. The big 20 threshold doesn't look likely until April.
--
more later..on those bullish indexes
vix'60min
VIX'daily3
Summary
There really isn't anything much to add.
So long as equities continue to broadly climb, the VIX will remain in the low teens. The big 20 threshold doesn't look likely until April.
--
more later..on those bullish indexes
Closing Brief
US indexes closed with moderate gains, sp +11pts @ 1847. The two leaders - Trans/R2K, settled higher by 0.4% and 0.9% respectively. Near term outlook is bullish into March, with a broader upside target zone of 1880/1920 by the next FOMC.
sp'60min
Summary
*closing hour weakness, but overall, just a natural retracement
I certainly do NOT think the daily close under 1850 is an issue. After all, we did not close net lower on the day. How could the bears claim anything from today's action?
--
Despite the gains, a relatively quiet day in market land, and I'll leave it at that.
the usual bits and pieces to wrap up the day, across the evening...
sp'60min
Summary
*closing hour weakness, but overall, just a natural retracement
I certainly do NOT think the daily close under 1850 is an issue. After all, we did not close net lower on the day. How could the bears claim anything from today's action?
--
Despite the gains, a relatively quiet day in market land, and I'll leave it at that.
the usual bits and pieces to wrap up the day, across the evening...
3pm update - a close in the 1850s
The sp'500 looks set for a historic close in the 1850s. The two leaders - Trans/R2K, are similarly higher, and will probably be breaking new highs in the near term. Metals continue to hold sig' gains of around 1%. VIX is merely melting lower in the 14.25/13.75 zone.
sp'60min
Summary
*the hourly charts are offering a baby bull flag, with upside into the 1865/70 zone by Wednesday.
--
Just another day for the bull maniacs. Tomorrow will likely be much the same.
Notable weakness: UGAZ -18%... intraday low -27% or so, which is one hell of a swing from pre-market gains of +7%.
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3.15pm.. a micro pull back..market probably just wants to re-test the old 1850 high..before the next wave into the 1860/70s.
Absolutely no reason why any bear should be getting even marginally excited about the last few hours. VIX is telling the story...a fearless market.
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3.33pm.. market testing the 1850 area...fractional break to 1849, not that it matters.
3.45pm...you can see how 1850 is again a key level. Regardless of the exact close..we didn't close lower, did we? back at the close.
sp'60min
Summary
*the hourly charts are offering a baby bull flag, with upside into the 1865/70 zone by Wednesday.
--
Just another day for the bull maniacs. Tomorrow will likely be much the same.
Notable weakness: UGAZ -18%... intraday low -27% or so, which is one hell of a swing from pre-market gains of +7%.
-
3.15pm.. a micro pull back..market probably just wants to re-test the old 1850 high..before the next wave into the 1860/70s.
Absolutely no reason why any bear should be getting even marginally excited about the last few hours. VIX is telling the story...a fearless market.
-
3.33pm.. market testing the 1850 area...fractional break to 1849, not that it matters.
3.45pm...you can see how 1850 is again a key level. Regardless of the exact close..we didn't close lower, did we? back at the close.
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