VIX'60min
VIX'daily3
Summary
Daily charts are pretty clear, despite the occasional hollow red (reversal candle), the broad trend is for lower volatility.
Equity bears should be seeking a daily close above the declining 10MA - currently in the low 14s.
Lower bollinger on the daily is now 11.76, and if the sp' is trading in the 1740/60s by early August, VIX 11s look viable.
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Underlying MACD cycle ticked higher for a sixth consecutive day. For the bears, that is arguably the only early warning sign out there right now.
more later..on the indexes