With equities closing very significantly higher, the VIX increased the rate of cooling, settling -16.3% @ 22.34. Near term outlook offers the sp'1970s, and that would likely equate to VIX 18/17s late next week. Sustained action in the mid/low teens looks unlikely, as the broader equity trend remains increasingly bearish.
*net weekly decline of -17.3%.
Suffice to add... equities look set to rally for at least another 3-4 days, and that will almost certainly equate to VIX back under the key 20 threshold.
The only issue is whether the VIX floors in the upper teens.. or the mid teens.
At some point in the weeks ahead.. VIX 40s look a given.
more later... on the indexes