Whilst equities closed significantly weak, the VIX was back on the rise, settling +2.7% @ 23.11. Near term outlook offers renewed equity upside, at least to the sp'1940s, and that will likely equate to VIX back under the key 20 threshold.
First... the 5min cycle merits an unusual highlight...
Upon release of the FOMC statement, the VIX saw a hyper spike to 27.22. Normally, I'd just write that off as a rogue print, but there were a number of downside prints.. with a low of 20.42.
The fact we managed a close in the 23s does give some credence to the original 27.22 print.. and more so, 20.42.
Anyway, despite this afternoon's wild ride, nothing has changed. There still seems viable upside to the sp'1970s, but that looks out of range for another 7-9 trading days.
more later... on the indexes