Volatility powerfully higher

With US equities falling across the day, the VIX built very powerful gains, settling +24.1% @ 18.26 (intra high 19.38), the highest level since early February. A weekly close above the weekly 200MA would be highly indicative that the equity wave from Oct'2011 is complete.


VIX daily3

VIX weekly

Summary

*it is notable that even though we're not at sp'1904 yet, the VIX is actually breaking above the high of early August.
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Suffice to say, volatility is most certainly doing 'something new'. A break above 20 now looks likely tomorrow.

Even more critical, a weekly close above the mid 17s would be a huge technical achievement for the equity bears. We've not seen that since late 2011.

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more later... on the indexes