VIX climbs into the weekend

With equities slowly unravelling into the weekly close, the VIX battled higher, settling +5.1% @ 13.86 (intra high 14.00). Near term outlook is for renewed equity weakness. The bigger VIX weekly cycle is offering the 16/17s in the immediate term. The big 20 threshold still looks difficult to hit.


VIX'60min

VIX'daily3

VIX'weekly

Summary

*the VIX saw a fractional net weekly gain of 0.6%.
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So, a tiny net weekly gain... after the sp'500 climbed from 2072 to a Thursday high of 2126, and settling Friday at 2109.

Most notable, the weekly MACD (blue bar histogram) cycle, ticked higher for the eighth consecutive week, and is now positive cycle for the first time since early February.

Clearly, momentum is now a touch in favour of the equity bears. Upper bol' on the weekly cycle is offering VIX 16/17s early next week. The key 20 threshold still looks difficult to break and hold above.

Right now, sustained action in the VIX 20s does not look viable until end June/early July, at which point Greece may have already nationalised the banking system and defaulted on much of its foreign held debt.

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more later... on the indexes