Volatility..a little higher

The VIX jumped moderately higher at the open, back in the low 14s, but with the indexes rallying across the day, the VIX lost over half the gains, and closed just 3% higher @ 13.15. Hourly charts offer upside early Thursday, but daily VIX charts suggest downside.


VIX'60min

VIX'daily3

Summary

There are indeed a few conflicting signals between the daily and hourly cycles.

Certainly, the more important daily chart is sporting a very clear black/fail candle, and that is highly suggestive of at least 'some' VIX downside Thursday and perhaps into next week.

Yet, the hourly MACD cycle looks somewhat primed for upside early Thursday.

Perhaps we'll see the VIX jump 5% early tomorrow, but still close red?

Regardless, seems no point in picking up any VIX call blocks ahead of the long weekend, and besides, the indexes could easily yet battle higher into the sp'1570s, which might equate to VIX 11s.
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more later on the Indexes