VIX'60min
VIX'daily3
Summary
The VIX count looks pretty good, and that sure looks a classic wave'3 spike. So..that would make today's decline a 4. The 4 could continue across much of Wednesday..in which case..the 5 would take us into Thursday.
On any basis, I don't expect VIX much higher in this cycle.
Special note..
It is entirely reasonable, and important to keep in mind that even though I expect one final VIX wave higher - as seen on the hourly chart, the final fifth wave might actual truncate - fall short, of the wave'3 high of 19.28.
As things are, I don't expect VIX to break above the key 20 threshold in the coming few days.
Perhaps the fifth will make a fractionally higher high..but regardless, it will probably be the last time we see VIX in the high teens for some weeks, perhaps even a few months.
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more later..on the indexes.