Whilst equity indexes broke new highs in the morning, the VIX managed gains of 6% or so, but still couldn't hold the 13s, closing +4.6% @ 13.02. Near term trend remains largely 'noise', and until VIX breaks into the 15s, all moves are...irrelevant.
Little to say, other than it remains 'mere noise'.
VIX opex is this Wednesday morning, so the bears first chance at seeing upside will be after that time, which is interestingly when the Bernanke will be speaking to the US congress.
A little VIX spike to 14/15 late Wed/Thursday?
*I certainly do not see any real chance of VIX spiking any higher than the 15s in the near term.