VIX closed with a reversal candle

Whilst the main equity indexes closed with moderate gains, the VIX managed to close with a classic reversal candle, settling -1.9% @ 12.73. Near term trend is offering increased volatility, with the next target of 14.50/15.00..as early as late Friday - with sp'1670s.


VIX'60min

VIX'daily3

Summary

As ever, a reversal candle (hollow red) is always something to pay attention to.

With equities seemingly stuck a touch under sp'1700, I am looking for a Friday VIX jump into the 14s..possibly even low 15s, which should equate to sp' 1670s.

As ever, it could drag out into early next week, but we're certainly due for some increased equity downside action.

Even an sp' drop of 20/25pts would not rank as anything 'significant'..and the same goes for VIX 14/15s.

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more later..on the indexes