Volatility a little higher

The VIX spiked in early trading (+10% to 13.41), but quickly failed as equities merely churned. The VIX settled moderately higher, +2.2% @ 12.25. Near term outlook is for VIX to remain within the 13/10 zone.


VIX'daily3

Summary

Little to add.

VIX remains low, and the big 20 threshold looks unlikely to be hit for at least another 5-6 weeks.

Equity bears should keep in mind, that if the next multi-week equity down cycle does not break much below sp'1960, then VIX will not be breaking >20 until next year.
--

more later.. on the indexes