With equities closing broadly weak, the VIX managed its first net daily gain in 7 trading days, settling +7.2% @ 20.78. Near term outlook offers threat of 22/23s - if sp'1905/00, but more broadly... the sp'1950/60s still look probable... which will equate to VIX in the 18/17s.
Suffice to add.. there is threat of further equity weakness early Wednesday, but from there.. the market still looks set to claw back upward.
It remains notable that VIX has been trading almost entirely above the key 20 threshold since the start of the year, a level that was barely ever attained across 2013-14.
more later.... on the indexes