Significant weekly declines for the VIX

With the US equity market breaking new historic highs, the VIX was naturally lower. The VIX saw net weekly declines of a very significant -10.9%, settling at 10.85. The near term outlook offers a minor spike to 13/14, before further weakness into mid July.


VIX'daily3

VIX'weekly

Summary

Suffice to say, the VIX remains extremely low, but this situation could last many weeks..perhaps even months.

As it is, I am STILL holding to a viable brief.. but very sharp down wave in equities later this summer, and that would most certainly offer VIX in the 25/35 zone.

*I have NO interest in picking up any bullish VIX positions until at least July'16th.

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more later... on the indexes

Closing Brief

US equities closed the week on a positive note, sp +3pts @ 1962. The two leaders - Trans/R2K, settled higher by 0.2% and 0.4% respectively. Near term outlook remains bullish into the sp'1970s, the 80/90s do not look viable until mid July.


sp'60min

Summary

So..another week for the equity bulls, and it has been a pretty impressive rally from the recent key low of sp'1814. Even the 1900 threshold is now a clear 3% lower, and I don't expect that to be breached until late July.. at the earliest.
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*I want to express my thanks to all those who have commented this week, it makes all the difference.

I will hold a single position across the weekend, WFM, which remains a real disappointment, but hey, I've until mid July before time runs out on that one.. not least if the main market peaks around then.

Sincerely... have a good weekend
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The usual bits and pieces to wrap up the trading day... across the evening.
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**the weekend update will be on the US weekly indexes

3pm update - minor chop into the weekend

US indexes look set for a weekly close somewhere in the sp'1955/65 zone, which will make for the tenth consecutive green candle on the 'rainbow' chart. Without question, the primary trend remains strong, as this market confidence is reflected in a VIX that is battling just to hold the 11/10s.


sp'weekly8b

Summary

Ten green candles...the strongest up wave of the year so far.

Thank the gods...its almost the weekend.. I'm burnt out.

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time for another kick off...

Switzerland vs France..... I'm with the French on this one.
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3.05pm... I should note my thanks for those who have said hello this week....always good to hear from you.

*I will hold across the weekend my WFM position, which remains an obvious train wreck. The 42s next week look a... challenge.


3.40pm.. chop chop chop...a close in the low sp'1960s...incredible.

WFM failing to hold the $39 level, the last line is $38.75.. anything under that....and its likely done for the summer.