Volatility a little higher

With the indexes seeing a little weakness in the late afternoon, the VIX flipped from moderately lower, to closing +2.7% @ 15.92. Such moves though, are to be treated largely as mere noise.


VIX'60min

VIX'daily

Summary

So...both the hourly and daily cycle are now trending higher. At the current rate though, it will take around 3-5 trading days for the VIX to go positive on the MACD (blue bar histogram) cycle.

Wednesday, there will be clear resistance around 16.0.

A break over 16.0, would open the door to 16.75/17.00, although I think the latter unlikely until we see a much stronger down move in the indexes - possibly <sp'1380.

More later.