Volatility net lower for a second week

With the equity market continuing to rally from the pre-FOMC low of sp'1972 (with a new historic high of 2092)... the VIX is naturally very subdued, settling 0.9% @ 14.50. The 12/11s look viable into end year/January. Across the week, the VIX declined -12.1%.


VIX'daily3

VIX'weekly

Summary

*not surprisingly, there was a last minute 'whack the VIX' event.. as often happens into the weekend.

VIX'1min

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Weekly MACD (blue bar histogram) cycle is set for a bearish cross, with a viable 4-6 weeks of downside... reflecting an equity market that could easily be in the sp'2040/60 zone by late Jan/early Feb.

The next VIX spike will likely not break back above the key 20 threshold
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more later.... on the indexes

Closing Brief

Most US equity indexes closed higher for the seventh consecutive day, with new historic highs for the Dow, SP, and R2K. The sp'500 settled +6pts @ 2088. The two leaders - Trans/R2K closed higher by 0.2% and 0.7% respectively. Outlook is bullish in early January.


sp'60min

Summary

Little to add.. on what has been an interesting... but naturally quiet holiday trading week.

Have a good weekend :)
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Meanwhile, over in Thailand... perhaps this is one way to get the market 'to da moon'?



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the usual bits and pieces to wrap up the week.. across the evening.

3pm update - 9 of 11

Since the sp'1820 floor of Oct'15, the market has rallied an extremely powerful 272pts (14.9%). This week will make for the 9th net weekly gain.. of 11 weeks. With the R2K now having broken out of a year long trading range (much like Transports across 2012)... much higher levels look due next year.


sp'60min

USO, 60min

Summary

*Oil trying to turn on the smaller hourly cycle... key level remains $20.53.
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Suffice to say... regardless of the exact weekly close.. its been another week for the bull maniacs, and even the pre-FOMC cycle low of sp'1972.. is now 6% lower.

Anyone seriously think we'll be trading under sp'2000 again any time soon?
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 back at the close.