Despite the main market closing a touch higher, the VIX managed to also climb a little, closing +2.7% @ 12.98. The next soft level is 13.50, and then 15.00. A break into the 15s would open up the gap zone of 16-18, but right now there is no real sign of that occurring.
Hourly cycle remains an utter mess. The narrow trading range is really making it near impossible to discern any real trends.
Daily cycle is offering a possible turn, with a wide bodied doji candle.
First target is a break of the recent high, into the 15s.
If we do somehow see the 15s..then VIX should at least 'briefly' spike into the 16-18 gap zone. The only issue is where does it get stuck..16s, 17s..or 18.0 ?
The sp'daily chart should offer some guidance, in discerning the next exit point for current VIX longs. Rising support is now around 1475.
more later..on the indexes