Volatility fills a gap

With equities sliding across the day, the VIX battled higher, settling +8.3% @ 12.56. Equity bears should be mindful that the VIX has got stuck at a gap level from May'21st. There is high probability that the VIX will resume lower into the weekend... and the first half of next week.


VIX'daily3

Summary

So..we have a clear break of the declining trend..and we're back in the mid 12s.

A fair few were looking for a low in equities this pre-opex - Thur/Friday..and if equities have indeed floored @ sp'1925, the VIX is set to melt lower for the next 2-5 days.

After the next FOMC of June'18, I could see VIX spiking into the 14/15s...but no higher, at least this month.
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more later..on the indexes