With US equities on the slide, the VIX naturally battled higher into the late afternoon, settling +11.6% @ 16.87 (intra high 17.14). A break above the Friday high of 17.57 looks difficult. Mid term outlook is for the VIX to melt lower...at least the 13/12s.
VIX'60min
VIX'daily3
Summary
Suffice to say... we have a reasonable 5 wave climb in the VIX.. almost complete.
Best guess... Wed' morning, equities see a key floor... with the VIX similarly maxing out.. somewhere in the 17s.
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more later... on the indexes