Volatility still melting lower

With some of the equity indexes breaking new historic highs, it was no surprise to see the VIX melt lower again, settling -1.2% @ 12.37. Near term outlook is for the VIX to remain in a very tight range of 13/11. VIX 20s do not look viable until late Jan/Feb 2014.


VIX'60min

VIX'daily3

Summary

The price action/structure in the VIX is pretty incredible to see. Every little pop is whacked lower by the equity bulls almost every day.

Even the VIX 14s now look out of range in the next week or two, which is a bizarre thought.

Without question, VIX 20s seem near impossible (baring the moon landing in the pacific ocean) for the remainder of this year.

As the recent VIX 'optionmonster' videos (that I highlight at lunch time) have shown, the only interest in VIX is in Feb/March. Virtually none of the pro-traders are looking for volatility to increase for another 8-10 weeks.

more later..on the indexes