Volatility up a little more

With the indexes opening around 1% lower, the VIX managed gains of 8%, but with the indexes battling back higher, the VIX slipped broadly lower across the day, closing +1.8% @ 14.07. Near term daily trend is suggestive of somewhat higher levels, the 16s look viable for Friday.


VIX'60min

VIX'daily3

Summary

So, VIX did manage to break into the 15s, which was a good sign for those seeking lower index levels for Friday, and into next week. Yet, 15 is still a very low VIX, and even the high teens really wouldn't get me too excited for June.

The hourly index charts are actually offering a wave'3/C as low as sp'1600/1590 in the next day or two. I suppose it could be argued that would surely kick the VIX back into the low 20s, but...it won't be easy.

Daily VIX candle is a giant black/fail candle, but...considering the hourly index charts, I'm inclined to dismiss this black candle.
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more later..on the indexes