VIX closed lower today, confirming the action in the main equity indexes. Next week looks set for further VIX declines, first target is 20..then 18.
VIX, daily, rainbow
Next week should be the completion of wave'2.. around VIX 18.
Wave'3 VIX should be at least in the mid 30s...probably 40s, sometime in July.
As noted last weekend, if VIX breaks 50 at ANY time, then we are in a whole different scenario, and a number of VERY seriously bearish outlooks will come into play.