VIX climbs into the close

With US equity indexes breaking new cycle highs, the VIX broke a new multi-month low of 12.50. However, with some distinct equity cooling into the close, the VIX pushed back upward, settling +0.3% @ 13.28, notably above short term declining trend/resistance.


VIX'60min

VIX'daily3

Summary

*daily candle is offering a somewhat clear spike floor from 12.50.
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So... the first net daily gain for the VIX in 7 trading days.

The 14s looks probable tomorrow.

The gap zone of sp'2065/61 will likely equate to VIX 15.50/16.50.

Sustained action above the key 20 threshold looks out of range until the latter half of May.

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more later.. on the indexes

Closing Brief

US equity indexes closed a little higher, sp +1pt @ 2102 (intra high 2111). The two leaders - Trans/R2K, settled u/c and +0.2% respectively. Near term outlook still offers cooling to the gap zone of 2065/61, but a monthly close <2050 looks increasingly difficult.


sp'60min

Summary

*closing hour action: distinct closing hour weakness, swinging from a new intra high of 2111.05.
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Despite the closing hour weakness.. it was unquestionably another day for the equity bears, as most equity indexes broke new multi-month highs.

Even if we somehow cool to the obvious gap zone in the 2060s, it will do little to negate the broader upward trend since February.

yours.. tired.

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more later... on the VIX

3pm update - 300pts across 48 days

With the algo-bot melt continuing, we've now seen the sp'500 net higher by 300pts (16.6%) from the Feb'11th low.. with VIX having cooled from the 30s to the 12s. It is of course entirely understandable as earnings are great, and the world economy is stronger than ever before.. especially in South America.


sp'60min

VIX'60min

Summary

*yes, there is a touch of upside in the VIX from earlier lows.. but still.... holding under declining resistance/trend.
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Suffice to add, regardless of the close, with a new cycle high for most indexes, its another day for the bulls.
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notable strength: BAC +2.6%...

A clear break above what is pretty important resistance, next level is the 200dma in the $15.50s.
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back at the close