Volatility primed to soar

It was a rather quiet day in VIX land, gains of 4% failed to hold as the indexes saw a small afternoon rally, and the VIX closed -0.07% @ 13.61. Across the week, the VIX lost 9%. If the indexes are maxed out at sp'1592, then the VIX should have a chance at 20s next week.


VIX'60min

VIX'daily3

VIX'weekly

Summary

The action today is pretty similar to that of Friday April'12. The following Monday saw the VIX break into the 17s. The pattern certainly looks similar, so it will be fascinating to see if next Monday is a day for the bears.

It has to be said, the weekly VIX decline of 9% is disappointing to see though. We've again come close to breaking back into the bizarrely low 12s.

Hourly cycle offers upside ALL of next Monday, so the bears do have a window of opportunity.

Best bear case for late Monday afternoon, now seems sp'1550s, with VIX 17.
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a little more later..on the indexes