With equities falling into the May close, the VIX battled higher, settling +4.0% @ 13.84 (intra high 14.43). The VIX saw a net weekly gain of 14.1%. Near term outlook offers further equity weakness to the sp'2080s, which should equate to VIX 16s.
Suffice to add... the VIX climbed 3 days of this shortened 4 day week.
VIX 15/16s look due next week, if sp'2080s... but from there.. the equity market looks due another up wave into the next FOMC of June 17'th.
By then.. we could be looking at sp'2160/80 zone... which would certainly equate to VIX back in the 11s.. perhaps even 10s.
more later... on the indexes