Volatility fails to hold the opening gains

With equities weak in early trading, the VIX jumped around 8% (intraday high, 14.20), but those gains never held for long. The VIX decayed across the day, settling +2.9% @ 13.29. Near term outlook is for the VIX to remain in the 14/11 zone, not least if the sp'1900s.


VIX'60min

VIX'daily3

Summary

Suffice to say, another day where the opening black hourly candle on the VIX was a key warning to those on the short side.

VIX 15/16s look unlikely any time soon, and the big 20s looks difficult until at least early June.
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more later..on the indexes