With the main indexes closing lower, the VIX managed to close with moderate gains of 6.9%, settling @ 15.94. Near term trend for volatility remains broadly to the upside. The only issue is whether VIX 20s will be hit before August concludes.
So..moderate gains for the VIX..but it has to be noted, that today was VIX opex, and with August VIX settling at 16.41 (or so), the closing level in the 15.90s ..is arguably a net decline on the day.
What is clear..VIX 12s now look out of range on any pull back..if not even the 13s.
The only issue is when the big VIX 20 threshold will be tested...not if. That currently seems very likely in the first half of September.
more later..on the indexes