Volatility break through

With the equity market getting trashed, the VIX built gains across the day, and made an important break into the 16s, settling +15% @ 15.89. Near term outlook offers the high teens. If sp' <1800, then VIX looks viable to spike into the low 20s, if briefly.


vix'60min

vix'daily3

Summary

*I remain long VIX, from the 13.90s..from Wednesday afternoon. Frankly..that now looks a near perfect entry, and I am indeed very pleased.

Seeking an exit in the 17/18s Friday/Monday....the 20s would be a real bonus.
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If sp'1770s...then how high VIX?

I suppose the mid/upper 20s are possible, but guessing how high the VIX might spike is always difficult. It really depends on just how consistent and powerful the equity down wave is.

As it is, the 20s do look likely next week..if only briefly.
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more later...on the indexes