Volatility continuing to climb

With the indexes seeing some weakness in the late afternoon, the VIX closed at the highs of the day, rising 7.6% @ 14.32. We are still a fair distance from the lower gap level of 16. It would seem likely that 15/16 will be hit tomorrow or Friday, with a 'reasonable chance' of 17/18 early next week.


VIX'60min

VIX'daily

Summary

A bit of a choppy day in VIX land, but the climb into the close was a pretty bullish sign for the next few days.

We are seeing a very consistent stair-step higher from the recent low in the 12s.

The gap zone of 16-18 does look like it will be hit soon..and 'filled in'.

More than anything, I don't see the VIX 20s in this up cycle, and indeed, it could be some months until we break that level again.
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*I remain long VIX, from the 12.34 level.

more later..on the indexes.