Volatility jumps in the closing hour

The VIX held very minor gains for much of the day, but jumped in the closing hour after Syria war-talk spooked the US markets. The VIX closed +7.2% @ 14.99. The situation is now extremely marginal, but equity bears need to keep in mind the looming QEs of Tue/Wednesday.


VIX'60min

VIX'daily3

Summary

Certainly, the closing hour made for a little bit of drama, after what had been a very dull and quiet day.

Both the hourly and daily cycle charts are offering further VIX upside for Tuesday, but really, the bears face the continued problem of QE. We've seen this play out a few hundred times over the past few years,and 95% of the time, the bulls will bring the market back to the upside.

So..all things considered, even if the market opens a little lower on Tuesday, I'm VERY inclined to still hold to the original outlook. Seeking a gap fill in the sp'1680s, before renewed downside to the lower weekly bollinger - currently 1564..and rising.
 
-
more later..on the indexes