Tuesday 9 April 2013

Volatility down again

With the headline Dow and SP'500 indexes breaking to new highs, the VIX struggled across the day. Opening minor gains failed to hold, and the VIX closed -2.7% @ 12.84. This remains close to the recent floor in the mid 12s that held for over a month.


VIX'60min



VIX'daily3


Summary

As a fair few have also noted - not least TraderDan, this market remains utterly..and unbelievably complacent.

RE: hourly VIX count.   Its just a vague idea, and certainly, we've almost retraced right back to where we started. The only backup evidence is the Trans/R2K indexes which are still considerably below their recent highs.
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Near term targets remain unchanged...

Primary...16/17
Secondary....19/20... the latter of which looks very difficult, without a break <sp'1500.

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more later...on the indexes