With equities closing significantly higher for a second consecutive day, the VIX continued to be crushed lower, settling -16.5% @ 14.05 (intra low 13.82). Near term outlook offers a moderate threat of equity downside to sp'2085/80, but with broader upside into August.
I think the bigger weekly cycle is increasingly important. Based on many multi-week cycles across the last few years, 2-3 weeks of a subdued VIX look due... before sustained price action above the key 20 threshold.
Prime time for the equity bears would appear to be from mid August.. into early October.
More later... on the indexes