Volatility still slipping

With the indexes all closing higher, the VIX again showed moderate declines, but did somewhat recover in the brief 15/20 minutes of AH trading.

The bears need to see VIX back in the 17s to break the near term down trend, and to show any initial sign that the bigger trend is about to start a major move higher.


VIX'60min

VIX, daily, rainbow

Summary

There is absolutely no initial turn yet in the VIX being indicated. Certainly, we are at bizarrely low levels, although it could conceivably continue for some days to come.

First target in any up move remains VIX 20, and then 24/25.

The mid-term target for 'sometime in August' remains 35/40.
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