With equities ending the week on a significantly negative note, the VIX opened higher, and tested the key 20 threshold (intra high 20.67), settling +9.3% @ 20.08. Near term outlook offers renewed equity upside into the next FOMC (Dec'16th).
*a very powerful net weekly gain of 40.1%.
Suffice to say.. primary target of the 20 threshold has been reached.. along with the sp'2020s.
VIX is very likely close to maxing out. Even if sp'2010s - where the 50dma will be lurking next week, VIX will not likely be able to sustain price action much above 20/21.
more later... on the indexes