VIX lacks any upside kick

Despite the sp'500 slipping to 1859 - breaking the Monday low of 1866, the VIX again failed to show any significant power this morning, and quickly turned lower, settling -2.9% @ 13.40. Near term outlook is for the VIX to melt into the weekend, to the 12/11s.


VIX'60min

VIX'daily3

Summary

More than anything, the VIX is still indicating - at least to me, the underlying pressure in equities remains to the upside.

We have seen a few occasions lately where the Dow is -100/125pts, and yet the VIX is only higher by 3-5%.

Frankly, unless I start seeing the VIX +10, 15, or even 20% in a day, into the mid/upper teens, I simply can not take any of the bearish outlooks seriously.
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more later...on the indexes