Tuesday 22 April 2014

Volatility lower for a sixth day

With equities rising for a sixth consecutive day, the VIX was naturally lower for the sixth day, settling -0.45% @ 13.19 (intraday low 12.90). Near term outlook is for the VIX to trundle within the 15/12 zone until next Wednesday's FOMC.


vix'60min


VIX'daily3


Summary

*the daily closing candle was a reversal (hollow red) candle, but I can't take it particularly seriously. With 3 sig' QEs due across the next 5 trading days, equity bulls have just about everything in their favour.
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It remains a market without any fear. Indeed, it remains notable that the VIX only reached 17.85 in the last cycle - well below the early Feb' spike high of 21.48.

Right now, the 20s look ever distant, probably until June.
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more later... on those bullish indexes