Volatility primed for another spike higher

Whilst the main indexes clawed a little higher, the VIX naturally slipped, but just a little, settling -1.7% @ 16.49. Hourly cycle is arguably already reset, with the daily/weekly charts offering upside to the 19/21 zone.


VIX'60min

VIX'daily3

Summary

For the equity bears out there, the decline in the VIX should be considered in context, not least after yesterdays gains. Today was very likely a simple consolidation day before the next jump.


Awaiting the next jump

Whether the jump takes place tomorrow, Friday..or next week, it does seem VERY probable that the VIX is now primed to make its first attempt on the 20s since mid June.

*I remain LONG VIX, holding overnight, and seeking an exit in the low 20s..by the Friday close.
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more later..on the indexes