With equities closing somewhat weak, the VIX was back on the rise, settling +6.1% @ 23.47 (intra high 25.30). Near term outlook is for continued equity weakness, with the VIX on track for the 30 threshold. If sp'1820.. then VIX is likely to spike to the 40/45 zone.
*a notable green candle on the 'rainbow' daily chart.
Suffice to say.. VIX is very likely beginning a new up wave. First target is the 30 threshold.. and then the 40/45 zone... the latter would certainly require a break of the sp'1867 floor though.
*I am holding long VIX from the 23s.
more later.. on the indexes