With equities seeing a second day of broad declines, the VIX continued to climb, settling +3.1% @ 15.70. Across the week, the VIX gained a rather significant 18.8%. Near term outlook offers the sp'2040/30s.. which should equate to VIX 18s.
So, we've seen the VIX swing from a Thursday low of 13.30 to a Friday afternoon high of 17.09 (with sp'2052). The closing action was one of rapid cooling in the VIX - as equities jumped around 0.7%.
Broadly though, the VIX is on the rise. It would seem the 18s are due next week... the 19-21 zone looks 'briefly' possible if sp'2030/20s.
Sustained action above the key 20 threshold looks out of range in the current cycle, until the latter half of May.
more later.. on the indexes