VIX turns higher into the close

With some comments from the ECB upsetting the market in the closing hour, the VIX put in a floor.. and jumped higher, settling +5.8% @ 18.33 (intra low 16.82). Near term outlook remains somewhat uncertain, whilst market remains stuck within the sp'1980/2064 range.


VIX'60min

VIX'daily3

Summary

*closing hourly candle was a rather powerful bullish engulfing candle.. highly indicative of a floor/turn, greatly favouring the equity bears tomorrow morning.
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VIX remains somewhat stuck in the upper teens, and it won't take much of an equity down wave to break back into the 20s.

*if market loses the Monday morning floor of sp'1980, then VIX has a 'small chance' of the 30s.. if things unravel to the sp'1920/00 zone. 
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more later... on the indexes