Volatility a little higher

Whilst equities saw minor chop across the day, the VIX managed to hold minor gains, settling +2.5% @ 11.87 - the seventh consecutive daily close in the 11s. Near term outlook is for the VIX to remain within the 14/11 zone, the 10s look viable if sp'1940/50s.


VIX'daily3

Summary

Little to add.

VIX remains low, and the big 20 threshold looks difficult to hit for at least 'some weeks'.

Certainly, I have no interest in picking up a VIX call block in the near term.
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more later... on the indexes

Closing Brief

US indexes saw minor chop across the day, sp -0.7pts @ 1924. The two leaders - Trans/R2K, settled lower by -0.8% and -0.2% respectively. Near term outlook is somewhat uncertain ahead of the ECB, but with broader underlying upward pressure.


sp'60min

Summary

A very quiet day in market land...tomorrow will most certainly be more dynamic, to be inspired by 'ADP jobs data', and a Fed beige book.

*I remain on the sidelines.
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more later..on the VIX

3pm update - melt into the close

The market remains pretty subdued, as it quietly awaits a series of key events/data across the rest of the week. Metals are set to close a touch higher, with the broader trend remaining weak. VIX will likely close in the 11s for the seventh consecutive trading day.


sp'60min

Summary

Little to add, on what is a quiet day.
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*I remain on the sidelines, and have little interest in trying to guess what the ECB will do this Thursday..never mind how the market might react to it.

Right now, I'd only consider an index short if sp'1935/40s, which is just about viable.