With equities climbing for the second consecutive day, the VIX continued to get crushed lower, settling -7.0% @ 12.50 (intra low 11.85). Near term outlook is mixed, with the hourly cycle offering a VIX rally across Thurs/Friday, but with sp'2100s closed above... the broader equity trend looks bullish into August.
Suffice to say, I'm surprised.. and bemused to see the VIX back in the 12s... even flashing lower to the 11s on the FOMC announcement.
All things considered, VIX is now on the very low side.. as some might say... the only way from here is up...yes?
*I remain long VIX from the low 14s.. which now looks a fair way higher! I am confident though I'll claw my way out of that position though.. net higher.
I remain seeking to be broadly long-VIX into Sept/Oct.
more later.. on the indexes