Volatility settles in the low teens

With US equities seeing some moderate swings across the day, the VIX managed some moderate gains, settling +5.7% @ 13.28. Near term outlook is for VIX to melt back into the 10s.


VIX'60min

VIX'daily3

Summary

So.. moderate gains in the VIX, and a notable daily close in the low teens - something we don't often see lately.

Unless Q2 GDP comes in negative tomorrow - seemingly unlikely (based on other econ data points), the VIX looks set to melt lower into the 10s within the next few days.

I would be VERY surprised if we break above the geo-pol' spike high in the 15s.
--

more later... on the indexes