Volatility battling higher

With equities seeing a rather significant afternoon reversal from sp'1968 to 1948, the VIX spiked higher, settling +10.5% @ 12.13. The VIX is likely to get stuck in the 12/13s, with the mid teens looking out of range in the current up wave.


VIX'60min

VIX'daily3

Summary

Suffice to say, an interesting late day mini surge in the VIX, but indeed... equity bears need to keep in mind we are only dealing with a VIX in the 12s.

So long as sp'500 can hold the 1930s...VIX will be unable to break much higher, and will likely melt lower into next week..and probably mid July.
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For now, I have ZERO interest in being long VIX.
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more later... on the indexes