Volatility flooring

Equities appear to have put in a key cycle top of sp'1991.. and the VIX is building a floor in the mid teens. VIX closed with moderate gains of 5.3% @ 15.15 (intra high 16.28). Near term outlook offers the 20/22 zone, if sp'1920s.


VIX'60min

VIX'daily3

Summary

Suffice to say... VIX has probably floored in the low 14s today. 13s now look out of range unless sp'2000s.. and frankly.. that does not look likely.
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VIX 20s look a rather simple upside target within the next 4-10 trading days.

Whether the VIX can break the recent high of 31.06.... difficult to say.. unless we break back under sp'1900.
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more later... on the indexes