Volatility moderately higher

With US indexes moderately lower, it was no surprise to see the VIX build gains across the day, settling higher by 5.5% @ 11.60. Near term outlook is for renewed upside in equities, with the VIX remaining in the 12/10 zone. The 9s remain viable.. if briefly.


VIX'daily3

Summary

We're going to surely break out of the descending trend next week -at the FOMC.

Even then, I only expect 15/16s..at the very most...perhaps equivalent to sp'1905/00 - where is there are multiple aspects of support.

From there, I'll be looking for another wave higher in equities, which should keep VIX pinned low into mid July.
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more later..on the indexes