With equities seeing a major reversal from the Monday gains, the VIX rebounded, settling +11.5% @ 13.64 (intra high 14.33). Near term outlook is for the sp'2050/40s, which should equate to VIX 16/17s. The big 20 threshold looks difficult in the current cycle.
*closing hourly candle was again indicative of the VIX remaining broadly subdued.
So..a sig' net daily gain for the VIX, but the VIX is still relatively low. There is obvious resistance in the mid 14s, and it was pretty disappointing to see the VIX close in the 13s today.
Overall though.. considering yet another equity reversal... VIX in the mid/high teens looks viable in the near term.
*I hold long-VIX.. seeking an exit in the 16/17s.... but my patience is wearing a little thin.
more later... on the indexes