With equities closing higher for the fifth day of six, the VIX settled lower for the fifth consecutive day, -8.5% @ 12.11 (intra low 11.87). Near term outlook offers an equity retrace to the 2090/80 zone, which should equate to VIX briefly in the 15s, 16s look increasingly difficult.
Pretty incredible to see the VIX having been crushed from a high of 20.05 last Thursday afternoon, to the 11s.
This market sure can get super complacent extremely quickly.
Best guess... a moderate VIX pop to the gap zone.. at least to 14.75/15.25. The big 20 threshold looks out of range until late August.
more later..on the indexes