Volatility climbs into the weekend

With equities falling into the Friday close, the VIX climbed higher for the fifth consecutive day, settling +5.0% @ 21.08 (intra spike high 23.06). Near term outlook is for a key equity floor around sp'2000, with the VIX cooling into year end.. and beyond.


VIX'60min

VIX'daily3

VIX'weekly

Summary

*across the week, the VIX gained an immense 78.3%.. perhaps the largest net weekly gain EVER.
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So.. the VIX not only broke the key 20 threshold, but managed a weekly close in the 20s. This is somewhat unexpected, but in any 'reasonable' outlook, the VIX is close to a key cycle high.

I simply can't envision equity declines sustainably below the sp'2000 threshold.
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more later.... on the indexes