VIX breaks the downward trend

With US equities breaking lower, the VIX broke upward, settling +9.1% @ 13.21 (intra low 12.01). Near term outlook is for more significant equity downside.. as low as the sp'2060s.. which might equate to VIX 16/17s. The big 20 threshold looks out of range in the new up cycle.


VIX'60min

VIX'daily3

Summary

Suffice to say... it looks like we have a short term top in equities.. with a short term floor in the VIX.

Equity bears should have at least 4-5 trading days in their favour... taking us into early next week.

Despite the ongoing Greek situation, I find it hard to envision the VIX breaking above the big 20 threshold.
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more later... on the indexes