Volatility makes the key turn?

Whilst the indexes closed broadly flat, the VIX managed to hold onto moderate gains across the day, closing 5.4% higher to settle @ 15.87


VIX'60min

VIX'daily

VIX'weekly

Summary

If I'm right about the indexes, then the VIX should show some follow through to the upside early next week.

First target is 17/18, and then once again, it'll be yet another attempt to break 20, which we've not seen since late July.

Indeed, a key sign of 'index trouble' will be if we see VIX break into the 20s. That is absolutely something that will be necessary to see, if the indexes are going to break below the recent sp'1343 low.

More later.