Friday, December 2, 2011

Christmas Comes Early

Here is an update of the VIX comparative study from last weeks note - see Here, and initially Here
"From this perspective, a bounce should materialize over the next several sessions. "
Anything is possible in this tape with the interventionists on the march, but from this comparative perspective - it appears Christmas is arriving early in the equity markets.

Because I have been following the 2002/2003 tape - I added it for further color. In either case, it looks like the swift decline in volatility is very close to exhaustion.