Volatility again breaks into the 20s

With equities breaking lower for the second day, the VIX was back on the rise, again breaking above the key 20 threshold (intra high 20.44), but settling +11.7% @ 19.60. Near term outlook is for renewed equity strength into opex, which should equate to VIX melting back to the low teens.


VIX'daily3

Summary

Little to add.

It is notable that despite the equity market still relatively close to historic highs (just 3-4% away), the VIX is holding the upper teens better than it has in a long while.. arguably, even more so than the mid October equity washout.

Does it bode for more 'interesting' equity weakness this early spring.... probably.
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more later... on the indexes