With equities building moderate gains, especially in the latter part of the day, the VIX continued to melt lower from the Thursday high, settling -5.0% @ 14.85. Near term outlook offers a jump into the 17-19s... the 20s still look difficult, even if sp'1930/20s.
*despite falling into the weekend, the VIX saw a weekly net gain of a very significant 22.6%
It was not surprising to see equities rally today, and indeed, my original target zone was for a retrace to 15/14.80. The afternoon low of 14.31 was marginally surprising.
Considering the truck load of technical breaks on Thursday, I'm now seeking further VIX upside, which should at least take the VIX to 17, perhaps 18/19s. The 20s still look difficult though.
more later... on the indexes