VIX, Daily, standard
Vix, weekly
Summary
One big question is whether the VIX can ever break last years peak of 49? We sure have some severely scary possible macro-economic events out there this year. Everything from the USA - (joining Japan and the EU), in recession, to Greece leaving the EU and/or Euro currency.
I've always - and still do, hold to the notion that if VIX breaks 49, we'll see VIX in the mid 60s. Today's close of 21.78 is a very long way from the 60s. That level seems impossible right now, but hey, last July so few were buying VIX calls at VIX'15, it took a mere 3 weeks to triple the VIX to the mid 40s.
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More later..dealing with the daily index cycles (all bearish!)