VIX'60min
VIX'daily3
Summary
The VIX was the anomaly of the day. Despite ALL equity indexes seeing significant daily declines, the VIX (at the highs) only climbed 7%...and with the CBOE actually going briefly offline in the closing hour, the VIX cooled, with just a tiny net daily gain of 2.4%
What about this discrepancy between VIX and equities?
It is difficult to say, but generally, when the VIX only gains a small amount (with equities very weak) it can be a leading warning to the equity bears that the down wave is nearing completion.
As has been the case since late 2011, VIX 20s are hard to break above, and that remains the case in the current equity down wave.
I suppose if we see sp'1910/00 next week, VIX might briefly break the big 20 threshold, but it sure won't be able to hold it for very long.
*as ever, equity bears should be seeking a VIX weekly close above the 200MA, currently in the mid 17s.
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more later...on the indexes