VIX'60min
VIX'daily
Summary
I just don't know what to think about todays VIX action. Hell, if you look at the daily chart, thats a fractionally red candle - at the top of the upper bollinger band no less.
*Indexes: trans closed positive today, Rus'2000..marginally lower, Dow/SP' lower.
So..with the VIX flat... what now?
I suppose the bears can at least see that the VIX hourly cycle - MACD (blue bar histogram) has now reset at least 50%. It could certainly jump higher again tomorrow, but...it sure isn't looking so great.
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Bears need a significant opening Thursday gap lower...right below 1425..preferably <1420. If that is possible, then perhaps the VIX can spike to 18/19.
I certainly don't see any near term moves <1400. There is still a near total lack of fear in this market, and the index declines we've seen so far are only in the 0.75-1.0% range..thats really minor.
More later