Despite the broader equity market settling moderately lower into the weekly close, the VIX settled -2.7% @ 13.40 (intra high 14.58). Near term outlook is for the sp'2040s, which should equate to VIX 16/17s. The big 20 threshold looks out of range in the current cycle.
*a net weekly gain of 10.6%
The closing hour saw the usual 'whack the VIX into the weekend' action... as equities managed to claw back above the 200dma.
Despite the net daily decline, the VIX does look set for higher levels early next week, as the Dow is set for the 17000 threshold.. along with sp'2040s.
*I hold long-VIX across the weekend.
more later.. on the indexes