Volatility slightly lower

With equities seeing a day of consolidation, the VIX similarly trundled fractionally higher..and lower across the day, settling -1.5% @ 13.89. Near term outlook is for the VIX to remain in a tight 15/12 zone, into the next FOMC (and VIX opex) of March'19.


VIX'60min

VIX'daily3

Summary

*I should note, the hourly chart is largely barren of labels, but then..the price action is very muted, and that will probably remain the case for another 8-10 trading days.
--

There is little else to add, on what was a very quiet trading day.
--

more later..on the indexes

Closing Brief

It was a day of consolidation for US equities, with the sp -0.1pts @ 1873, having fractionally broken a new high of 1876.53. The two leaders - Trans/R2K, settled +0.3% and -0.2% respectively.  Near term outlook remains broadly bullish, into the 1880/1920 zone by the next FOMC.


sp'60min

Summary

A pretty quiet day, and there really isn't much to add.

I see a few people trying to short the market, trying to trade a minor retracement, but really, that doesn't make any sense to me. Overly risky, not least whilst the big monthly cycle is offering 1930s this month!

--
more later..on the VIX

3pm update - chop into the close

US indexes are seeing mixed minor chop, with the sp' still holding the low 1870s. The equity bears lack any downside power, and there isn't much hope of even a minor retracement until the jobs data this Friday. Metals are holding minor gains, Gold +$3.


sp'60min

Summary

A sleepy day...and from what I see, I'm not the only one out there who is tempted to close down the screen.
--

However, there are some notable movers out there...

DRYS, UAL, UGAZ...and now FB +4%...in the $71s.


3.17pm... Oil, -1.9%... I'd not noticed this sig' fall until just being reminded by clown finance TV.

Still looks like we'll get a second daily close in the sp'1870s.