Volatility slips a little

With the main indexes breaking back to the upside, the VIX slipped lower, but only a little, settling -1.3%  @ 14.91. Near term trend for the VIX looks weak, with a brief return into the 13s. The big unknown is how high might the VIX spike if the sp' breaks back under 1600.


VIX'60min

VIX'daily3

Summary

The daily MACD (blue bar histogram) cycle for the VIX is VERY high, and a few days pull back would be very natural.

Best guess, VIX will slip back into the 13s, whilst sp' battles back into the gap zone of 1680/85. That seems likely to take at least a few days, perhaps even into early next week.

Regardless, VIX looks set for much higher levels as we move into September, with sp' back under 1600.
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more later..on those indexes