VIX battles upward

With equities on the slide, the VIX built solid gains across the day, settling +10.1% @ 13.77 (intra high 14.25). Near term outlook is for broad equity downside, at least to the sp'2050s, which should equate to VIX 15/16s. The key 20 threshold looks difficult, unless 2025/2000 zone.


VIX'60min

VIX'daily5

Summary

Suffice to add, the Wed' spike low/reversal candle has been confirmed with a strong net daily gain. Regardless of the Friday open, VIX looks set to close the week in the 15/16s.

*I remain long-VIX, seeking an exit in the 15/16s... 17/18s would be a bonus right now.

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more later.. on the indexes