Volatility peaked in the gap zone

With the market appearing to floor at sp'1850, the VIX maxed out in the gap zone of the 15.20s. With a latter day recovery in equities, the VIX broke lower, settling -0.6% @ 13.97. Near term outlook is for the VIX to melt lower to the 12/11s - if sp'1880/90s.


vix'60min

vix'daily3

Summary

Suffice to say, VIX did finally manage to reach the gap zone, at which point it has got stuck.

I do not expect a higher VIX later this week, and the 20s look out of range for some weeks, perhaps even a few months.
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more later..on the indexes