Volatility maxed out in the low 16s?

With equities having likely put in a floor at sp'1772, it would seem the VIX has similarly maxed out in the low 16s, settling +0.8% @ 15.54. VIX looks set to decline back into the 14/12 zone, although there remains some moderate uncertainty with the FOMC next Wednesday.


VIX'60min

VIX'daily3

Summary

So long as equities don't break today's low of sp'1772, VIX has surely maxed out in the 16s.

Once the FOMC is out of the way next week..with (I strongly believe) a no-taper decision, VIX should melt lower for the remainder of the year.
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more later..on the indexes