VIX comfortable in the 20s

For the first time in almost a year, the VIX is looking rather comfortable above the key 20 threshold. The VIX closed +6.4% @ 20.11. Near term trend offers possible brief downside to 17/16, but there remains a severe risk of a spike to the 25/30 zone.


VIX'60min

VIX'daily

Summary

Yes, the VIX closed with a somewhat bearish black-fail candle, but I think the bigger trend is still very much to the upside. VIX looks set for another surge into the mid/upper 20s by late this week, or early July.

That would match up with the sp' hitting 1510/00 (best bear case).

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I remain on the sidelines overnight, but looking to pick up a VIX August '20s strike CALL block late Tuesday.

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more later...on the indexes