VIX crushed into the low teens

With equities closing significantly higher for a second consecutive day, the VIX continued to be crushed lower, settling -16.5% @ 14.05 (intra low 13.82). Near term outlook offers a moderate threat of equity downside to sp'2085/80, but with broader upside into August.


VIX'daily3

VIX'weekly'2

Summary

I think the bigger weekly cycle is increasingly important. Based on many multi-week cycles across the last few years, 2-3 weeks of a subdued VIX look due... before sustained price action above the key 20 threshold.

Prime time for the equity bears would appear to be from mid August.. into early October.

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More later... on the indexes