VIX recovers into the close

With equities reversing higher from the open, the VIX remained relatively subdued across the day, settling +0.5% @ 14.74. Near term outlook offers renewed equity weakness, which should equate to VIX making yet another challenge to break the double top of 17.19.


VIX'daily3

VIX,weekly

Summary

*I wanted to highlight the weekly cycle, since the MACD has ticked higher for the third consecutive week. There remains viable upside (if briefly) to the VIX 20/22 zone.. but that will of course require a clear break of sp'2039.
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VIX remains weak... but held up relatively well, considering the equity gains.

If the market can't break above 2088... then renewed equity weakness.. with another push higher in the VIX... at least to the mid/upper 16s.

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more later... on the indexes