Volatility fractionally higher

With the indexes building upon opening gains across the day, the VIX was lower, but only by 1% at the low. The VIX managed fractional gains by the close, +0.7% @ 13.71. Hourly charts offer VIX upside for Tuesday, with near term initial target on the daily charts remaining in the 16/17s.


VIX'60min

VIX'daily3

Summary

Today was one of those rare days where we have all the indexes closing with distinct gains, but where the VIX was flat..or in today's case..even a touch higher.

Certainly, the hourly charts offer upside across Tuesday, but how high? Daily charts would suggest 16/17s are viable. That is going to probably need sp' back in the 1560s, if not even the 1540s.

As has been the case since late December, first big target is the key threshold of VIX 20. A daily/weekly close >20 would be very significant, and clarify that 'things have changed' since the current index wave from last November.
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more later..on the indexes