VIX update - moderate falls...before the explosion

VIX failed to break above the important 24 level today, and with sp'1306 holding - completing wave'b, the markets recovered...and the VIX slipped slowly across the day.


VIX'60min

VIX, daily - bullish outlook

VIX, weekly

Summary

VIX target is 20, possibly 19/18 by late Thursday.
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I will keep this post brief, but merely a reminder that the weekly cycle is primed to explode to the upside, with VIX in the high 30s/40s, with the next cycle starting as early as this Friday.