It remains somewhat ironic to even note, but a VIX spike in the 14's remains an extremely low level, and is absolutely nothing for the equity bears to get excited about. VIX settled +7.2% @ 13.77 with an intraday peak of 14.66. VIX 20s still look very unlikely for some weeks..if not months.
So..the VIX battled into the 14s, but this is without question, a bizarrely low level in the scheme of things.
I'm certainly not surprised to see the VIX max out in the 14s, and overall, I don't think 15s are viable for some weeks. As ever...we shall see.
more later..on the indexes