With the sp'500 closing lower for the third consecutive day, the VIX managed a second day of gains, settling +3.5% at 13.00 (intra high 13.22). Near term outlook is for a daily close under the 200dma (currently sp'2070).. which should see the VIX battle upward to the 16/17s
Underlying MACD (blue bar histogram) cycle on the VIX is set to turn positive either tomorrow, or at the latest... this Thursday.
Much stronger.. and sustained upside in the VIX looks due across the rest of this week... at least to the 15s.. but the 16/17s look viable if sp' closes under the 200dma.
*I remain long VIX, seeking an exit in the 16/17s.. by the Friday close.
more later.... on the indexes