The morning reversal seen in the equity market was eventually reflected in a VIX around 7% higher. However, with a little bounce into the close, and HPQ earnings AH, the VIX lost half the gains, settling +3.4% @ 13.82. Near term trend is offering another few days higher, 15/16s.
VIX'60min
VIX'daily3
Summary
It does look like we are in a new up trend on the VIX, but with QE continuing, the eventual spike high won't like be much above 15/16.
On no reasonable outlook can I see VIX in the 20s..for some months.
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more later..on the indexes
