Volatility smacked back down

With US indexes building gains across the day, the VIX was knocked down from the open, settling -17.1% @ 12.06. Near term outlook is for the VIX to slip back into the 10s, and single digit VIX is possible if sp'2000 before months end.


VIX'daily3

VIX'weekly

Summary

Across the week, the VIX declined by -0.2%, and clearly, the giant spike is a pretty bearish candle.

Despite the brief Thursday climb into the 15s, VIX looks set for lower levels in the weeks ahead. The big VIX 20 threshold looks unlikely to be tested for some months.
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more later..on the indexes

Closing Brief

US indexes ended the week on an especially positive note, sp +20pts @ 1978. The two leaders - Trans/R2K, settled higher by 1.3% and 1.6% respectively. Near term outlook is for renewed upside across next week, with the sp'1990/2000s very viable.


sp'60min

Summary

..and another week comes to a close.

Certainly, for the bears, it was a dire end to the week, almost completely reversing all of the Thursday declines. Considering the bigger weekly/monthly cycles, the sp'1990/2000s look on track before end July.

Thanks to all those who said hello this week.. makes all the difference.

Have a good weekend everyone!
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*the usual updates across the evening to wrap up week.

The weekend update will be on the US weekly indexes

3pm update - ending the week on a positive note

US indexes look set for minor opex chop into the weekend, having built rather significant gains across the day. Most notable, the sp'500 has come within just 0.3% of breaking a new historic high. VIX is at risk of a weekly close in the 11s.


sp'60min

Summary

...long week...not least after yesterday.

I realise for many... this is a dire end to the week. After all, everything seemed so lousy yesterday...talk of sp'1940s, 30s...I even saw a few seeking the 1920s within 'a few days'.

Here we are.. with the 1990s viable next week, and a VIX that is once again crushed back down.
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I sure didn't pick up a long-index block this morning - having failed to see a secondary down wave, but hey... at least I'm not short. There will be fair chance of a minor down wave on Monday, but that might be after a gap higher.

updates ...into the close...


3.14pm.. a weekly close in the low 1980s would be pretty spiteful to the bears, but then...when isn't the market that way?

VIX -16%... 12.20s.. and the 11s look likely in the closing minutes.


3.45pm.. minor chop continues..still a high chance they'll whack the VIX lower in the closing minutes.

back at the close.