Despite the sp' closing -22pts @ 1628, the VIX failed to close significantly higher, and instead settled +0.2% @ 16.64. It remains a largely fearless market, and today's VIX close bodes badly for those equity bears who are seeking a break <sp'1608/1598 in the days ahead.
No doubt a lot of amateur traders will be utterly bemused at today's VIX flat close.
Yet, this is something I've seen a fair few times over the last few years.
Usually, such a close means the equity declines are just temporary, and that the market will soon be rebounding.
A VIX weekly close in the 14s still looks very viable.
more later...on those indexes