VIX reversal candle

With equities breaking above resistance of sp'2108 in the morning, the VIX was crushed, seeing a momentary spike low of 10.88 - the lowest level since July 2014, settling -3.8% @ 12.51. Near term outlook is uncertain, and will depend on whether the bears can attain a daily close under the 200dma in the low sp'2070s.


VIX'60min

VIX'daily3

Summary

*the daily candle is a classic hollow red reversal candle. The added hyper-spike adds to the notion that this was an exhaustion move.
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The morning spike to 10.88 was another one of those periodic bizarro VIX prints. The daily close in the mid 12s was a minor consolation to those currently long volatility.

*I remain long-VIX, am trying to be patient, seeking an exit in the 15/16 zone.

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more later... on the indexes