Hedgeye - A Simple Visual of Falling Global Market Volatility... Is It A Headfake?

Editor's Note: Below is a brief excerpt from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.

Last week’s -12% drop in US Equity Volatility (VIX) got plenty of stock chart chasers cheering on a rally they better hope isn’t another head-fake. In today’s Chart of The Day, here’s how global equity volatility looked week-over-week:

NASDAQ VXN Index -12.1% to 16.19
Euro Stoxx 50 V2X Index -4.2% to 12.85
FTSE 100 VFTSE Index +6.0% to 11.74
France’s CAC VCAC Index +1.5% to 12.31
South Korea’s VKOSPI Index -12.0% to 11.71
India’s Nifty 50 INVIXN Index +8.0% to 14.32

So, while it wasn’t a broad based break-down in volatility, front-month US Equity VIX breaking @Hedgeye TREND support of 14.05 certainly got my attention. It really got the attention of the machines.