Volatility explodes into the 30s

With equities sliding to a new cycle low of sp'1820, the VIX built on opening gains, hitting a new peak of 31.06, but settling +15.2% @ 26.25. Near term outlook is for another wave lower in equities, which should equate to VIX once again in the low 30s.


VIX'daily3

VIX'weekly

Summary

Most notable aspect of the day, VIX breaking the summer 2012 high of 27s, into the 31s. We're now back to levels last seen in late 2011.

I am still seeking a significant bounce back into the sp'1900s, which would like equate to VIX back in the upper/mid teens.. before VIX going nuclear in November.. to the 40s.

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more later... on the indexes