VIX holds up

Whilst US equities closed with moderate gains, the VIX held up relatively well, settling -0.4% @ 15.09 (intra low 14.81). There is viable renewed equity downside, which will offer VIX 17/18s... by the Friday close. The big 20 threshold remains a tough level to break/hold.


VIX'60min

VIX'daily3

Summary

All things considered, the fact the VIX held up so well (relatively) was one of the most notable aspects of today.

Equity bulls should be at least 'mildly' concerned with this discrepancy.
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Primary downside target for the equity bears should be the sp'2040/30 zone.. where the 200dma will be lurking next week. That is 'best case' though... and if Friday closes in the 2100s.. bears should probably scrub any hope of that.

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more later... on the indexes