VIX a touch lower

With equities climbing higher in the morning, the VIX was naturally cooling, but largely recovered into the close, settling just a little lower, -0.2% @ 14.71. Near term outlook remains very mixed, as equities remain largely stuck within the sp'2088-39 zone.


VIX'60min

VIX'daily3

Summary

*closing daily candle was a reversal hammer candle (hollow red)... with a spike floor..  and certainly favours the equity bears for Wednesday.
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Equities are seeing some considerable chop. There will be no clarity until a daily close >sp'2088... or a break under the key low of 2039.

At best... there is viable VIX upside to the 20/22 zone - as offered on the bigger weekly cycle, but that would require a test of the sp' 200dma.. in the 2010s... and that won't be easy!
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more later.. on the indexes