With equities battling higher across much of the day, the VIX was knocked back into the 13s, and was unable to claw back, settling -3.8% @ 13.86 (intraday range: 14.16 - 13.57). If sp >1883, then VIX looks set to slip into the 12/11s.
*a rare look at the VIX monthly chart, which had a net decline of -1% this March.
The hourly VIX cycle is arguably close to floored, but..if the equity bulls do manage to break >sp'1883, then VIX will be further crushed for the rest of this week.
Daily VIX candle was a reversal doji candle, the second consecutive reversal. Although MACD (blue bar histogram) cycle ticked lower for the third day... no sign of a turn yet.
The VIX 20s look very difficult, and are most certainly out of range, unless bears can take out the key low of sp'1834.
more later...on the indexes