Volatility still melting lower

With the equity market largely trading sideways on near zero trading volume, the VIX merely declined a little further. The VIX closed -3.5% @ 13.06  It still seems likely to be some weeks, even a few months until VIX is back above the key 20 threshold.


VIX'60min

VIX'daily3

Summary

If sp' can get stuck next week in the 1550/60s..then VIX 12s - but perhaps holding above the 12.08 low....and then it will probably be time to consider getting bearish for a multi-week down cycle.
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More later ...on the indexes