Volatility fractionally higher

With equities weak, the VIX battled higher - intraday peak 16.07, but settling +0.6% @ 15.09  Near term outlook is for sp'1845/35..which should equate to VIX 17/18s. For the big 20 threshold to be hit, we'll likely need to see at least the sp'1810/00 zone.


VIX'60min

VIX'daily3

Summary

So..a brief break into the 16s, but with a latter day equity bounce (and I do think its just a bounce), the VIX went marginally negative in the closing hour.

The net daily gain is negligible, but there remains underlying threat of an imminent move to the 17/18s - which should equate to sp'1845/35 zone.

What would be really exciting, is if the equity bears manage a daily close <1830. That will open up what is arguably 'easy downside' of a further 30/40pts to 1800/1790s. That should equate to VIX briefly in the low 20s.

*keep in mind that the VIX 2013 high was 21.90s. So..22s would be a key victory for the bears.
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more later..on the indexes