The indexes closed largely flat this Friday. The VIX closed a touch lower, but across the week, the VIX did make net gains of just over 4%, to close @ 17.81. This remains a bizarrely low VIX, and a mini-surge into the low 20s seems very viable next week.
A somewhat muted end to the week for both the indexes and in terms of volatility itself.
The hourly cycle is fully reset, and we could easily open much higher on Monday - although that was also true for today.
The daily cycle is I believe a very important chart, and I think we have a very clear bullish flag, with a likely target of 20/21 early next week.
The bigger weekly cycle continues to battle higher, but so far, we're still not even over 20, which considering 'everything out there', is remarkably low.
A weekly VIX closing >20, remains my third 'red flag for the Autumn' (the other two was transports monthly close <5000, and WTIC Oil <$90 - both achieved some weeks ago).