VIX knocked lower into the close

Despite equity indexes closing higher, the VIX held up relatively well, settling -3.8% @ 14.81. Near term outlook is for post FOMC equity downside... first target is the sp'2055/50 zone, where there are multiple aspects of support.


VIX'60min

VIX'daily3

Summary

*some distinct 'whack the VIX into the close' action... more often occurs on a Friday afternoon.
--

Volatility remains remarkably low, especially when considering the ongoing Greek situation.

Even if sp'2050s within 3-5 trading days, the big VIX 20 threshold looks out of range in the current cycle.

Much higher VIX levels look far more viable in the Aug-Oct time frame.

--
more later... on the indexes

Closing Brief

US equity indexes closed moderately higher, sp +11pts @ 2096 (intra low 2082). The two leaders - Trans/R2K, settled -0.3% and +0.7% respectively. Near term outlook is for upside into the 2100/10 zone.. before resuming lower after the FOMC/Yellen are out of the way.


sp'60min

Summary

*closing hour.. very minor chop... naturally.
--

A day for the equity bull maniacs...  but we saw a double floor of sp'2099 recently, and that sure didn't work out so well.

I would guess 2072 is not a key low.. and we'll at least resume falling to the low 2050s.. where there are a wheel barrow of aspects of support (not least the monthly 10MA).

*I will consider hitting some buttons tomorrow (short side).. probably via INTC, which has one of the more bearish price structures out there.
-

Have a good evening

--
more later... on the VIX

3pm update - net daily gains

US equity indexes are set to close with moderate net daily gains, in the sp'2090/2100 zone.. along with a VIX in the 15.25/14.75 zone. USD remains holding minor gains, +0.2% @ DXY 95.00. Metals are a little weak, Gold -$4, with Silver -0.6%. Oil is +0.7% around the $60 threshold.


sp'60min

vix'60min

Summary

Well, it will be a day for the equity bears... unless another 'spooky news' Greek headline appears in the last hour.. but that is seemingly unlikely.

Broadly... market is in a holding pattern.. ahead of the FOMC announcement.
-

notable strength: NFLX +2.3%.. as the momo chasers can't resist it.. even ahead of the Fed.
-

back at the close!