It would appear the VIX put in a key spike-floor (13.89), just ahead of the FOMC announcement, with the VIX settling +4.1% @ 15.12 (intraday high 15.95). Near term outlook is for VIX to climb into the weekend, first key target is last Friday's high in the low 18s.
The 13s were always just about viable, and it was not entirely surprising to see them hit this afternoon.
The snap higher into the upper 15s was a pretty impressive initial move for the equity bears, and bodes for a likely challenge of last Friday's high.
What about VIX 20s? It would seem very unlikely by this Friday close, but certainly..next week.
more later..on the indexes