Volatility starting to increase

With the main indexes showing renewed weakness in the latter half of the day, the VIX closed over 7% higher @ 17.92. This still remains a bizarrely low level of volatility, even 20 is still a further 12% away.


VIX'60min

VIX'daily

Summary

A real mess in the morning in VIX land, but the opening candle was a reversal (hollow red) candle, and after breaking into the 15s..briefly...the VIX battled higher into the close.

First target remains a move to close >20.

I don't believe VIX can break into the mid 20s, unless we see a one-day special, with a major collapse wave <1300. Odds are very much against that happening.