Volatility still cooling

With equities continuing to break new historic highs, the VIX was naturally continuing to melt lower, settling -3.0% @ 14.80. Near term outlook is for VIX 12/11s by year end. The big 20 threshold looks out of range until at least late January.


VIX'daily3

Summary

Little to add.

VIX remains in melt mode, and looks set to go sub-teens before year end.

--
more later... on the indexes

Closing Brief

US equities closed broadly higher for the fifth consecutive day, sp +3pts @ 2082 (intra high 2086). The two leaders - Trans/R2K, settled higher by 0.8% and +0.1% respectively. Near term outlook is for continued moderate upside to the sp'2095/2105 zone by year end.. along with VIX in the 12/11s.


sp'60min

Summary

There is little to add, on what was a rather classic pre-holiday day of low vol' melt... not least in the more stable heavy industrials.
--

more later... on the VIX

3pm update - just another day of gains

US equities look set to broadly close higher for the fifth consecutive day, having broken the psy' level of Dow 18k, along with a new high of sp'2086. There is probably another 0.5-1.0% of upside in the remainder of the year.


sp'60min

Summary

Another day for the bull maniacs, and it remains a case of broader melt to the upside.
--

Notable weakness: TWTR -2.1%