With equities settling significantly lower, the VIX was naturally back on the rise, settling +5.4% @ 22.28 (intra high 23.99). Near term outlook is increasingly bearish for equities, with renewed explosive upside due in the VIX to the 30s.. if not 40s in October.
*the VIX saw a second consecutive net weekly decline of -4.0%.. with another lower high.. and lower low.
So... has the VIX floored at 17.87 - with sp'2020 this past Thursday?
Considering the daily/hourly cycles - with key breaks of rising trend/support on some indexes.. the answer is probably yes.
Renewed explosive upside into the VIX 30s.. and almost equally likely.. the 40s looks due into October.
*I will look to pick up a VIX-long position next week.
more later... on the indexes