With equities closing lower for the second consecutive day, the VIX managed another net daily gain, settling +10.4% @ 31.40 (intra high 33.82). Near term outlook is for renewed equity upside, which should see the VIX cooling back to the low 20s.
*note the daily closing candle.. a black-fail doji, which itself is a reminder than the VIX saw an opening hourly black-fail candle.
VIX certainly continues to reflect a market that is regularly seeing powerful swings.
All things considered, price structure IS a large bear flag, and does bode for further VIX cooling, with equities having upside back above the sp'2000 threshold.
more later on the indexes