Whilst equities are seeing slight gains, there is notable weakness in the VIX, -3% in the 10.70s. VIX 9s seem probable, and are certainly viable if sp' can claw its way into the 2000s. After all, since everything is fixed in the economy now.. there is nothing to fear!
VIX'daily3
Summary
Even the mid teens look difficult to reach in the immediate term. The 20s look completely out of range, even if we see a wave lower on weak Q2 GDP.
As things are, I certainly won't be long VIX until mid Aug/early Sept.
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stay tuned.
