Having been briefly knocked to 11.85 at the FOMC announcement, the VIX spent Thursday in floor building mode, settling -2.2% @ 12.22 (intra low 12.09). Near term outlook offers renewed equity downside, which should equate to a VIX weekly close in the 13/14s.
Suffice to add, market is back in complacency mode.. but broadly... I remain expecting much higher volatility levels as we proceed into August.. and all the way into early October.
*I hold long-VIX from the low 14s.. seeking my next exit in the 16/17s.
more later... on the indexes