Volatility continues to melt lower

With equities gaining for a fourth consecutive day, the VIX naturally continued to melt lower, settling -4.9% @ 14.51 (intraday floor of 14.08) - the lowest level in over two weeks. Near term outlook is for the VIX to attempt to battle back to the 16.50/17.00 zone


vix'60min

vix'daily3

Summary

When taken together, the equity hourly..and the hourly VIX charts are offering a possible ceiling/floor respectively.

Best guess...sp' slips, with a natural retracement to 1800/1780, with VIX jumping back to 16.50/17.00
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Considering the broader turn in the weekly index cycles, I'm resigned to general equity upside into March/April...to new historic highs. If that is the case, the VIX will very likely slip lower to the 12/11s.

more later...on the indexes