Volatility climbs into the weekend

With equities seeing continued underlying weakness across the day, the VIX held up strongly, settling +7.2% @ 17.03.  Across the week, the VIX gained a very powerful 22%. Near term outlook is for sp'1770s, which will probably equate to VIX in the low 20s.


VIX'60min

VIX'daily3

VIX'weekly

Summary

Suffice to say, VIX is on the rise. The only issue is how high will the VIX spike when the sp' test the 200 day MA in the 1770/60s next week. The low VIX 20s seem a given, the only issue is whether mid/upper 20s.

The weekly VIX is suggestive of the usual resistance around the 200 MA, currently in the 18.70s.

Equity bears have not achieved a weekly close above the 200 MA since 2011. As it is, even if we do break into the low 20s next week, I'd be surprised if we close the week there.
-

more later..on the indexes