Volatility ground back down

With US equities putting in a key floor of sp'1978, and building gains across the day, the VIX was ground back lower, settling -11.1% @ 13.27. Near term outlook is for VIX to slip back to the 12/11s.


VIX'60min

VIX'daily3

Summary

Despite breaking a marginally lower low in the US indexes, the VIX failed to break the Tuesday high of 14.94.

We're clearly headed at least down to the 12.75/12.25 zone.

Daily VIX (and equity) MACD (blue bar histogram) cycles are offering at least 3-4 days in favour of the equity bulls.
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more later... on the indexes