Volatility reverses from the open

Yet again, with equities opening higher, the VIX opened lower..but there was a confirmed reversal by 10am. The VIX settled higher by 6.5% @ 14.93. Near term outlook is for VIX to battle into the 16.50/17.50 zone. The 20s seem unlikely, unless market breaks <sp'1800.


VIX'60min

VIX'daily3

Summary

*a closing hour high of 15.28, but VIX just couldn't quite hold the 15s.
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So...yet another day where the VIX broke into the 13s, but again...reversing back higher.

As noted in the lunch time video,  buyers keep stepping in when VIX 14/13s, which is indeed a pretty low VIX level.

Certainly, there will be some difficulty in breaking much above 16.50/17.00 in the remainder of this week.

more later..on the indexes