VIX whacked into the close

With equities closing moderately mixed, the VIX remained subdued, settling -5.4% @ 14.47 (intra high 15.74). Near term equity outlook remains weak, with the bigger weekly VIX cycle offering the 17/18s as a viable capitulation spike high.


VIX'60min

VIX'daily3

Summary

*VIX was duly whacked lower in the brief 15mins of AH trade.. to settle at the low of day. Its the sort of thing that would normally happen on a sleepy Friday afternoon.
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Despite a fourth day of declines for some equity indexes, the VIX could not hold the earlier high of 15.74 - the highest level in 5 weeks, with a rather typical late day cooling.

At some point in the coming months the VIX is going to explode into the 20s (if not the 30s.. if sp'500 <2K), but that certainly does not look viable in the current up cycle.

Next realistic chance of VIX 20s appears no earlier than mid/late July.

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more later.. on the indexes