VIX resumes cooling

With equities closing significantly higher, the VIX was naturally back in cooling mode, settling -7.0% @ 22.54. Near term outlook offers the sp'2000s, and that will likely equate to VIX back under the 20 threshold. If sp'2040/50s, VIX will likely floor in the 17/15s.


VIX'daily3

Summary

Little to add.

Equities look set to continue higher into the FOMC... with VIX set to continue cooling.


*I will consider picking up a VIX-long postion within 2-5 trading days.
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more later... on the indexes

Closing Brief

US equity indexes closed significantly higher, sp +25pts @ 1978 (intra high 1983). The two leaders - Trans/R2K, settled higher by 1.8% and 1.1% respectively. Near term outlook is for continued gains, at least to 2000/2010, but with almost equally viable 2040/50s.


sp'60min

Summary

*closing hour: moderate chop.... nothing for the bears to get excited about.
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So.. sig' daily gains as based on... little vol'. Regardless... a day for the bulls.. and it brings within reach the sp'2000s.. something some have been proclaiming lately as 'not likely for the remainder of the year'.

To those currently short, I can only imagine.. today was indeed annoying.

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more later... on the VIX

3pm update - significant net daily gains

US equities look set to hold sig' gains into the close, with the sp'500 closing somewhere in the 1975/85 zone. VIX is naturally cooling, back in the 22s.... set to lose the 20 threshold this Thursday. Commodities are mixed, Gold -$5, whilst Oil is seeing some rather wild intraday swings, currently back to +1.0%.


sp'60min

USO'60min

Summary

All US indexes are set for sig' gains... and with today's gains, it makes the 2040/50s that much easier this Thurs/Friday.

To be clear.. 2040 IS within range this week.. and actually, I'd argue its more viable this week.. than next.

In any case... I can't be short this.


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*I will hold a micro USO-long overnight.. and almost certainly into the FOMC of Thursday afternoon.
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back at the close.