Volatility continues to melt lower

With US equities seeing some minor weak chop in the late afternoon, the VIX tried to hold minor gains (intraday high 13.75), but failed, closing -1.2% @ 13.25. Near term outlook is for sp'1895/1905, which should equate to VIX back in the 12/11s.


VIX'daily3

Summary

Little to add, on what was a very quiet day.
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If the market likes the jobs data tomorrow morning, indexes will jump 1% or so, and that should easily be enough to kick the VIX lower into the weekend, probably into the low 13s..even 12s.
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more later on the indexes.

Closing Brief

US equities closed the day with minor chop, sp -0.3pts @ 1883. The two leaders - Trans/R2K, settled +0.6% and -0.1% respectively. Near term outlook is for the market to break into the 1895/1905 zone, whether tomorrow, or early next week.


sp'60min

Summary

Little to add, on what was a day when the market merely settled into a holding pattern ahead of the Friday jobs data.
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*I hold heavy long overnight, would prefer an exit late Friday, but if I have to hold into next week, that is fine with me.
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more later..on the VIX

3pm update - don't get lost in the mild hysteria

Mr Market continues to see minor weak chop, with the sp' vulnerable to downside to sp'1875. Yet, any retail amateur trader getting lost in mild bearish hysteria is likely setting themselves up for a difficult Friday morning.


sp'60min

Summary

Hourly lower bol'...offers the bears 1875 or so.. in the closing hour..

It is very likely, a last ditch opportunity for the bears to exit before the sp'1900s..whether tomorrow or next Monday.
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*I hold heavy long overnight, especially in the Oil/Gas drill stocks, DO, RIG, SDRL. Yes..they are all down, but then, I bailed yesterday near the highs..and I'm back in at much lower levels, so I ain't complaining!
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3.18pm.. minor chop..in the low 1880s....

There can be NO excuses. Everyone is getting a chance to re-position ahead of the Friday jobs data. Bears are getting a chance to exit....and bulls are getting the opportunity to buy back in at lower levels - at least in some stocks/sectors.