Despite equity indexes breaking a pair of new historic highs in the morning, the VIX opened higher, and built gains across the day, settling +6.7% @ 13.12. Near term outlook is for the broad equity upside to continue into May. The big VIX 20 threshold looks out of range for some weeks.
Little to add.
A net daily gain in the VIX, but still.. a VIX that struggles just to break into the 13s.
Considering the broader equity trends, there is little reason to believe VIX has any significant opportunity to break into the 20s until at least mid June.
more later... on the indexes