Despite most US equity indexes closing weak, the VIX was unable to hold minor gains, settling -0.5% @ 16.84. Near term outlook offers another equity push higher, and that threatens a brief VIX drop to the 15s.. even 14s. However, VIX looks set to begin a new multi-week up cycle... onward to the 30s and beyond.
Suffice to add, VIX remains broadly subdued ahead of the latest FOMC announcement.
The daily lower bollinger is offering a brief foray into the 15s.. or even 14s.
more later... on the indexes