Volatility still retracing lower

It was a pretty messy morning for the VIX, opening a touch lower, but then seeing a minor snap higher to 16, but as expected, the market battled back to the upside. VIX closed -3.9% @ 14.39. It would seem VIX 13s are viable Tuesday, before an attempt to break 20 this Friday.


VIX'60min

VIX'daily3

Summary

Today went broadly as expected, especially for the VIX.

With the indexes faking out the bears in mid-morning, the VIX was teasingly spiking higher to 16.00..only to then fail..and slipping moderately net lower by the close.

Best guess remains, VIX 13s 'sometime' Tuesday, along with sp'1570s.
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I hold to my mid-term outlook, which is seeking a VIX daily - and possibly weekly close above the key 20 threshold. If the latter is achieved, then the VIX upper 20s..even 30s are viable in late May.

More later..on the indexes.