Volatility breaks into the 16s

With equities swinging to the downside, the VIX saw an opening reversal, and battled into the 16s, settling +12.1% @ 16.22. With viable downside to sp'1835/30, there looks to be brief upside to VIX 17/18s this Friday. The 20s still look unlikely until after the FOMC, if not April.


VIX'60min

VIX'daily3

Summary

The opening reversal candle (hollow red) is something I wasn't paying much attention to in the early morning.

Indeed, as much as I place emphasis on 'black-fail' candles for equities, it is equally important to note opening reversal candles...to the upside.

There looks to be a fairly high likelihood of VIX 17/18s (briefly) tomorrow, with sp'1835/30..before a bounce into the FOMC.
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more later..on the indexes