Volatility surges higher

With the main indexes seeing their biggest decline of the year, the VIX surged higher..and climbed higher into the close. The VIX closed +19.25%, and settled @ 14.68 There is a major gap level of 16-18, which might easily equate to sp'1490/80.


VIX'60min

VIX'daily3

VIX'weekly

Summary

VIX traded a little higher in the brief AH period. The 14.68 close bodes pretty well for a move into the 15s tomorrow.

The big issue is just how high can the VIX spike in this new up cycle?

*those doomer bears looking for an 'ides of March' issue should look to the VIX weekly chart. If it can hold these gains into the coming weekend, then early next week we might see the weekly MACD cycle go positive...offering major upside, with an attempt to break into the 20s.
--

As it is, I just don't think we'll see VIX 20s until late April/May.

Best guess...sp'1490/80 within the next 2-5 trading days..with VIX (briefly) spiking into the 17s.

Then...sp'1550/1600s into early April, with VIX 11/10s