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VVIX Seems to Agree

The news today is going to be the rally in the S&P 500 and the continued utter obliteration of VIX.  But I think the more interesting part of the story is the way VVIX has dropped the last couple of days followe up by its complete and utter dismemberment after the fed announcement.  With VIX dropping more than the S&P rhas rallied along with the crushing in VVIX, there may be a run higher in SPX back toward its highs.

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The vol is dead, long live the Fed

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The market for volatility, the VIX, got a one, two punch for the BOJ and the Fed. They basically said they will do things in the future. BOJ to target rates, possibly less QE and the Fed for a likely Dec and 2017 rate rise.  They bought time and they bought space to take out some of the lingering doubts about rates in the mid-term and certainly before the election.

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