VIX building a floor

Having been briefly knocked to 11.85 at the FOMC announcement, the VIX spent Thursday in floor building mode, settling -2.2% @ 12.22 (intra low 12.09). Near term outlook offers renewed equity downside, which should equate to a VIX weekly close in the 13/14s.


VIX'60min

VIX'daily3

Summary

Suffice to add, market is back in complacency mode.. but broadly... I remain expecting much higher volatility levels as we proceed into August.. and all the way into early October.

*I hold long-VIX from the low 14s.. seeking my next exit in the 16/17s.
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more later... on the indexes