From a pure cyclical perspective, the VIX is set to climb higher from this morning's low of 15.43 into the weekly close. Despite the messy morning price action... underlying pressure remains leaning in favour to the equity bears, with gains in the precious metals remaining an indirect signal.
*VIX hourly candles.. spiky floors, bode for increased volatility into the weekly close. Equity bears need to see last Friday's high of 17.09 broken above.
Five hours left of the week.... plenty of time to still cool to the 2030s... with VIX 17s.
Hourly MACD equity/VIX cycles are still offering a close in the 2020s - with VIX 18s... but yes.. that is 'best case'.
notable weakness... AAPL, monthly
The April candle should seriously concern the equity bulls. By definition.. its suggestive of $70s