With US equities opening broadly weak, the VIX managed the second consecutive daily gain, settling +4.8% @ 14.89 (intra high 16.67). Near term outlook is for VIX 17/18s. There is 'small' chance of 22/25.. if sp' breaks (briefly) under the 2000 threshold.
*despite the very strong latter day equity recovery, it is notable that the VIX still managed a gain.
Clearly... after a fair few weeks of minor chop.. the VIX is back on the rise.
Considering we have already broken into the 16s - with sp'2030s, the 17/18 zone looks very likely.
The big issue is whether we'll see a brief washout, with VIX 22/25... although that would probably require sp'1950.. which I find hard to believe.
more later.. on the indexes