VIX lacks any upside power

With equities slipping lower in late morning, the VIX spiked, with gains of 4%. With a rather typical latter day equity recovery, the VIX cooled back down, settling +1.2% @ 11.96. Near term outlook is for VIX to slip into the 10s, if not the 9s.


VIX'daily3

Summary

Little to add.

VIX remains unable to break and hold even the 13s. The mid teens look out of range, and the big 20 threshold.. looks almost impossibly out of range until (dare I say)... next year.

It remains a market that has ZERO concern about anything, whether it is economic growth, inflation, interest rates... or least of all..... middle east turmoil.
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more later.. on the indexes