U.S. VIX equity volatility is 8.2% lower
U.S. VIX equity volatility is 8.2% lower near 14.70, having bolted as high as 17.28 in early trade when rhetorical missiles were being lobbed back and forth on N. Korea. That cleared out the summer double top near 16.30 mentioned yesterday and marked a new 9-month high before retreating to lows of 14.52. Yet the move overnight cleared out some deadwood and complacency since the election, in fact bringing vol a step closer to its immediate post-election high over 23.0. Pullbacks may face some buying interest ahead of the 200-day m.a. near 12.00, which may keep a retest of 8.84 life lows from July 26 a dim prospect at best for now. The S&P 500 has broken below its 2,448.3 50-day moving average support line, which is snagging the index for now ahead of a test of 2.4k, as investors weigh the scales between greed and fear.