With equities seeing another swing, this time to the upside, the VIX was ground lower into the weekend, settling -15.6% @ 16.86. Near term outlook is offering broad equity upside into August, with the VIX set to cool to the low teens.. perhaps 12/11s.. before sustained 20s.. or even 30s in Sept/Oct.
*net weekly gain of 0.2%.
Certainly, the market saw some significant volatility this week, and we even saw the VIX briefly (as in minutes) break above the key 20 threshold.
The bigger VIX weekly cycle is offering a second consecutive spiky top candle... and that bodes for further cooling into next month.
What is rather exciting though is that the next VIX up cycle - probably beginning after mid August, should see much higher levels.. at least to the 25/30 zone.
more later... on the indexes