Volatility fails to hold the morning gains

With US equities seeing a latter day recovery, the VIX failed to hold the moderate gains (intra high 13.64), settling -1.0% @ 12.56. Near term outlook is for the VIX to melt back into the 10s.. and eventually single digit VIX this summer.


VIX'60min

VIX'daily3

Summary

*the daily VIX candle is particularly bearish, a red close with a spike, and a failure at the 200 dma, which itself continues to tick slowly lower.
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So, some morning gains in the VIX, but it merely makes for a lower spike high. The 10s look due by end of this week.

VIX 20s look unlikely for some considerable time, and I have ZERO interest in being long the VIX.
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more later... on the indexes