Volatility climbs for a second day

Whilst equities saw some interesting weakness into the close, the VIX built gains across the day, settling +11.75% @ 15.50. Near term outlook is for the VIX to remain in the 15/12 zone. However, if sp' breaks <1826, then VIX could briefly break into the 16.50/17.00 gap zone.


vix'60min

vix'daily3

Summary

It was a bit of a messy day on the VIX.

It was Feb' expiration at the open, but then the VIX cooled down as the sp' broke to 1847. Yet..with the market rolling over into the close, the VIX battled back.

Overall, best case for the equity bears is a VIX in the 16/17s..before the next multi-day down cycle. I certainly do NOT see VIX 20s for some weeks, if not until mid/late April.
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more later..on the indexes