Volatility fractionally higher

With the main indexes seeing significant weakness in the closing hour, the VIX managed to close a touch higher, +0.5% @ 15.85. The hourly cycle is offering very strong upside potential for Monday into the 18/19s. Across the week, the VIX declined by 6.8%.


VIX'60min

VIX'daily3

VIX'weekly

Summary

The VIX has been melting lower since the spike high last Friday afternoon in the mid 17s.

It would appear the VIX has formed a floor in the low 15s..and if today was a key reversal day, then the VIX should see very strong gains next Mon/Tuesday.

First target is around 18/19, and VIX 20s look viable in the latter part of next week.
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*I am heavy long VIX, from the 15.50s (having exited last Friday afternoon in the 17.40s).

more later..on the indexes