Yesterday, December 19, 2023 was a new record pattern in the Nasdaq futures, as the Nasdaq futures hit 11 days in a row of both higher highs and higher lows on the day session daily bars. At mid-day today, if the lows hold, then it will be a new record of 12 days in a row. There have only been two other times historically when there are 10 days consecutive days of both higher highs and higher lows in the Nasdaq futures day session back to July 1999.
We also saw the lowest daily range in 2023 in the Nasdaq futures yesterday (excluding holidays) of only 85 points.
The Average Daily Range of the VIX for the last 12 days is 0.59 intra-day, and at the lowest levels since October 2017.
When this happened in 2017, we saw Volatility cycle higher in 2018.
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