The VIX held above 11 most of the day yesterday but closed with a thud at the low for the day of 10.73!

The last time the VIX was below 11 was on Feb 23, 2007 when it closed at 10.58. On Jan 24, 2007, the VIX closed at 9.89. The lowest price I saw on a 14-year chart was Dec 22, 1993 when the VIX was at 9.31.

Even though 10.73 seems low, we can go lower. I won't be surprised if we go below 10. The VIX has done it before. Never say the market can't do something. The market will move to frustrate the greatest number of participants.

2014-06-07 VIX Chart image