Volatility a little higher

Whilst equities saw some rather notable swings across the day, the VIX managed to hold on to minor gains, settling +2.1% @ 16.31. There appears a decreasing chance of a renewed push higher, VIX 13/12s look a given within a week or two.


VIX'60min

VIX'daily3

Summary

So...a minor up day... but holding below yesterdays opening level of 17.08.

Equity bears are still struggling, and even if we do somehow break a new high, I'm increasingly resigned that equities won't break much below sp'1950/40 in the current equity down wave.

Underlying MACD (blue bar histogram) on the daily VIX cycle is getting pretty high... maybe another few days higher..if that.
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a little more later...