Another blowout month for the markets, with 8 straight weeks of gains, despite awful earnings and horrible economic numbers, keeps the QE going! In a shortened trading day today, S&P Futures (ES) and the broader market rallied on some bullshit about black Friday sales, only to absolutely wipe out all the day gains. ES closed down -.05 handles at 1804.25, with 817K minis trading. Volume and action was very low all day, but the minute selling began, volume exploded. Session high came in at 1812.50, and session low at 1802.75. The VIX was resilient all day, staying above the 13 level.
VIX closed higher by 5.55% at 13.70, with a session high at 13.78. Commodities popped higher, with Gold at 12.51/oz. The 10Y yield climbed to a high of 2.768%.
VIX TERM STRUCTURE (vixcentral.com)