Volatility moderately higher

With equities showing some distinct weakness across the day, the VIX managed to hold moderate gains into the close, settling +4.3% @ 12.96 (intraday high 13.30). What is clear though, VIX is still lacking any 'significant' upside power/kick.


VIX'60min

VIX'daily3

Summary

*it is probably important to note that VIX opex is at the Wednesday open.
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So..equities broke lower today, with the dow -160pts at one point, yet..the VIX never really showed any significant upside kick. This is the SAME price action in equities and the VIX that we've been seeing for weeks..if not so far this year.

Overall, I have to hold to renewed equity upside (unless sp'1850s, with R2K <1080), with the VIX remaining low into mid June.

For the moment, I'm still content to wait, although I will most certainly be seeking to pick up a large VIX call block in June...with first upside target of 19/21. 
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more later..on the indexes