With US equity indexes closing moderately higher, the VIX was still broadly subdued, having made a new cycle low of 13.06, but settling -1.9% @ 13.56. Near term outlook offers some equity weakness, with a push higher in the VIX to the 18/19s. Sustained action >20 looks difficult for another few weeks.
*I adjusted the descending trendline on the daily chart.. as we broke a new cycle low today.
As of the April 1st' open, VIX bulls need to see 15s to offer any opportunity of the upper teens next week.
Suffice to add.. it was pretty incredible to see the VIX almost break into the 12s this morning.
Yet.. we did see a turn around 11am. The 14/15s look viable tomorrow/Friday.
more later.... on the indexes