The VIX was something of a mystery today. With the indexes losing over 2% today, VIX 'only' closed up around 10%. The opening VIX move of 8% soon failed..and VIX even went red at 11.30am. The close was somewhat bullish volatility, but still, the VIX appears to either simply be lagging, or is warning that an index floor is about here.
VIX, 60min
VIX, daily, bullish outlook
VIX, weekly
Summary
VIX closed well into the close, and we are sitting in the target box on the daily chart. The VIX weekly cycle still offers slightly higher levels of 29/30 next week.
More later...looking at the daily index cycles.
