Volatility a fraction higher

With the indexes slipping in the late afternoon, the VIX battled back from moderate declines of 3.5%, to close +0.07% @ 13.62. VIX looks to have secured a floor in the low 13s. Daily charts offer imminent upside to the 17s. Key weekly resistance remains the 20/21 zone.


VIX'60min

VIX'daily3

VIX'weekly

Summary

So, the VIX closed a fraction higher, but it failed to close in the 14s - which had been a late day hope of mine.

Despite another close in the 13s, the VIX daily chart looks like a turn is very likely to be confirmed within a day or two. First upside is the upper bollinger zone area in the 17s.

The ultimate issue in the next down cycle is whether the VIX can break into the absolutely important 20s. A daily close in the 20s would be something we've not seen since last December.
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If the market gets upset at deeply disappointing US growth (lack of) tomorrow, then the VIX could easily make it into the 17s by late afternoon.

more later...on the indexes.