Volatility fails to hold gains

With equities slipping to a lower low of sp'1982, the VIX broke higher to 14.06, but with a latter day recovery (if minor), the VIX settled -4.6% @ 12.88. Near term outlook offers a possible VIX spike high in the 15s, before melting back lower.


VIX, daily3

Summary

Suffice to say.. if we see sp'1972/00 in the next 2-3 trading days, it should equate to VIX in the 15s... which would likely make for a natural key cycle turn.

On any reasonable outlook, VIX 20s look unlikely in the near term.
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more later... on the indexes