Volatility jumps back higher

With the main indexes moderately lower, the VIX opened higher..and maintained positive gains across the day. The close was somewhat bullish, with the VIX closing +13.7%  @ 14.67. The gap zone of 16-18 will quite possibly be fully filled within the next 2-4 days.


VIX'60min

VIX'daily

VIX'weekly

Summary

Last Fridays VIX declines were entirely negated today, and that is indeed something for the bears to be pleased about. Yet, we're still in the VIX 14s, and even the lower end of the 16-18 gap zone is still a good 10% away.

If the indexes floor around sp'1470, VIX'17 will be difficult.
If sp'1460/55, VIX '18 seems a 'reasonable' target.

On any outlook, I find it implausible for VIX >20 for some considerable months to come.