Volatility continues to climb

With US equities weak for the fifth consecutive day, the VIX was naturally continuing to climb, settling +4.2% @ 22.39 (intra high 23.31). Near term outlook offers a test of the important 200dma of sp'1965... which might equate to VIX 25/27 zone.


VIX'daily5

Summary

*naturally, with equities sliding for the fifth consecutive day, the VIX inversely mirrored... rising for the fifth day.
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Suffice to add.. the only solace for the equity bulls is that the VIX did not break a new cycle high today, but that seems likely tomorrow (opex).. or next Tuesday (Monday is closed).

Based on the MACD (blue bar histogram) cycle, equity bears have at most another 3 or 4 days in their favour.

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more later.. on the indexes