Volatility climbs a little

With the main US indexes rolling over in the closing hour, the VIX managed to claw a little higher, +2.0% @ 13.07. Daily charts are offering a moderate VIX snap to the upside within the next 2-3 days. However, it would be surprising if VIX can put in any daily closes >15.


VIX'daily3

Summary

VIX remains at bizarrely low levels, and even a 10% up day would do very little, and we saw plenty such days in April, only to end back in the 12s.
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The ultimate doomer bear target remains a weekly close above the 200 weekly MA, which is still around VIX 21, and I sure don't think that's likely any time soon. Months, perhaps even a year.away.

more later, on the indexes.