With US equities closing broadly lower, the VIX was back on the rise (intra high 16.42), settling +6.3% @ 15.60. Near term outlook offers the sp'2040/38 zone... which should equate to VIX 18s. Sustained action above the key 20 threshold still looks out of range in the current cycle.
Without question.. in the scheme of things, the VIX remains at relatively low levels. Even a move to the 18/19s later this week would still make for a VIX that is massively below the levels since in Jan/Feb'.
At best.. VIX might see 19-21 zone in the near term. Sustained action above the key 20 threshold looks out of range.
more later... on the indexes