Volatility builds powerful gains

With equities sliding across the day, the VIX built gains, settling a powerful 27.2% higher @ 16.95 - the highest daily close since mid April. Near term outlook offers a minor pull back, but the bigger issue is whether a close above the weekly 200 MA is possible in August.


VIX'60min

VIX'daily3

VIX'weekly

Summary

It has been a long day.. so I will be brief...

With the spike high of July'17 taken out, VIX is on the climb. There is however massive resistance in the 17s, where the weekly 200 MA is lurking. The VIX has never been able to attain a weekly close above it since Nov' 2011.

Those equity bears seeking much lower levels should indeed be looking for VIX to attain such a weekly close, whether tomorrow..or in the weeks ahead.

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more later... on the indexes