Volatility continues to slide

With US indexes climbing across much of the day, the VIX was naturally lower, settling -4.4% @ 12.24. Near term outlook is bearish, with the VIX likely to melt into the 10s by the Friday close. Single digit VIX looks due... the only issue is when.


VIX'daily3

Summary

Little to add.

VIX reflects a market that is only moderately spooked, for very brief periods.

VIX looks set to remain generally constrained in the sub-teens for a few more months.
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more later.. on the indexes

Closing Brief

US indexes all closed higher, sp +9pts @ 1983, with notable new highs on the Trans/SP'500. The two leaders - Trans/R2K, settled higher by 1.1% and 0.8% respectively. Near term outlook is bullish, the QE-pomo for Wed/Thursday will no doubt help.


sp'60min

Summary

*aapl earnings due at 4.30pm...
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So...a day of gains, and with new highs on the Trans/SP, price action remains particularly bullish.

*I hold moderately long overnight, I'm long the R2K from 1154... seeking the 1170s by the Friday close.

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more later.. on the VIX.

3pm update - baby bull flag... probably

US equities see a micro snap lower, but most indexes are still moderately higher on the day. Price structure on the sp'500 is a very viable baby bull flag, although it is negated if a break much below 1980.


sp'60min

Summary

Hmm...what do you think?

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*AAPL earnings at the close....

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3.11pm... LONG the R2k from 1154.

Yeah..I executed a trade... is the bull case cursed now?


3.20pm.... so... I'm moderately long...seeking the R2K 1170s by end of the week...1180s would be a bonus.