With the US indexes breaking new lows around lunch time, the VIX did make a new high, but with the long awaited index bounce finally coming in late afternoon, the VIX did indeed close slightly red. A further move lower for around 2-4 trading hours seems very likely during early Tuesday.
VIX'60min
VIX, daily - bullish outlook
VIX, weekly
Summary
Looking for VIX 24/23 sometime Tuesday, and then one last lunge higher across Wed/Thursday, probably to around 29, maybe even briefly 30/31 - if the market gets a little twitchy about the usual EU concerns.
More later...
