VIX jumps higher

With multiple earnings disappointing the market, equities opened sharply lower, with the VIX climbing to a morning high of 18.41. As is often the case though, VIX cooled into the afternoon, settling +10.9% @ 17.22. Near term outlook offers a sig' equity rebound.. with VIX still viable to fall to the 14/13s.


VIX'60min

VIX'daily3

Summary

*a daily black-fail candle.. which bodes in favour of the equity bulls for Wednesday
--

Considering the major drop in equities in the morning, it was almost a little surprising that the VIX did not re-take the key 20 threshold.

The daily close offers a clear break of near term down trend, but overall.. equities do look highly vulnerable to resuming upward.. to new historic highs.
--

more later... on the indexes