Volatility spikes.. and cools

With equities seeing some moderate swings across the day, the VIX managed a spike high of 14.07 (with sp'1962), but settling +0.4% @ 13.33. Near term outlook is for the VIX to melt back down to the 10s.


VIX'60min

VIX'daily3

Summary

So, the VIX managed a gain for the second consecutive day. Yet, the daily candle was a bit spiky, and the close - see hourly cycle, should not inspire the equity bears.

I expect the 10s by the Friday close. The only issue is when we'll see single digit VIX. Certainly, that appears likely...whether August...or perhaps more likely... September.

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more later...on the indexes