VIX trying to level out

With the sp'500 so far unable to break/hold above the key 50 day MA of 1624, the VIX daily trends are starting to suggest a possible turn/levelling phase. The VIX closed +0.4% @ 16.44. Daily MACD cycle is still ticking lower, but a clear turn now looks viable by late Friday.


VIX'60min

VIX'daily3

Summary

Suffice to say, VIX 20s still look a long way up, and don't appear viable until next week...if at all this month.
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Equity bears should be desperate to see the sp' put in a daily close <1600, with the VIX back in the 18/19s. Right now, that seems the 'best bear case' by the Friday close.

more later..on the indexes