VIX'60min
VIX'daily3
VIX'weekly
Summary
The VIX jumped into the close yesterday, and this mornings follow through of a further 8% was kinda interesting, but the fact those gains failed soquickly was a very strong signal this market is not going any lower in the near term.
The weekly chart is still kinda bullish, having gained over 8% across this week. Yet, from a momentum cycle perspective, the bulls could justifiably say its merely a failed spike...which it is.
No VIX 20s for at least a month or two
My outlook is for the sp' to climb to 1550/60 - no later than end April, and that very likely means the VIX will decline back into the 12s..if not the 11s. In fact, if the media - and the market gets a touch of bullish hysteria in March/April..perhaps we will briefly see single digit VIX.
...and that would make for a very nice multi-year cyclical VIX floor.
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more later..on the indexes.