With the sp'500 breaking a new cycle floor of 1901, the VIX broke a fractional higher high of 27.39, but notably cooled into the close, settling -10.0% @ 24.30. Near term outlook offers an equity bounce into the FOMC of Jan'27th.. and that might equate to VIX in the 18/16 zone.
With the sp' close of 1923, there is provisional clarity of a short term floor.
VIX is confirming this, via a very rapid cool down in the late afternoon, from the 27s to 24s.
*I exited TVIX-long in the early morning... seeking to pick up again Jan 26/27th.
Seeking broadler VIX upside to the 30s, perhaps the 40s in February.
more later... on the indexes