VIX still cooling

With equities closing moderately mixed, the VIX remained broadly subdued, settling lower for the sixth consecutive day, -0.7% @ 19.40 (intra high 20.32). Near term outlook offers opportunity of an equity retrace to the sp'1950s, which would likely equate to VIX 21/22s.


VIX'60min

VIX'daily3

Summary

Price structure on the hourly cycle is arguably a baby bull flag - relative to the bear flag on the equity hourly cycle.

Best guess... sp'1960/50s... with VIX 21/22.. then renewed equity upside into next week... the sp'2040/60 zone remains 'best bull case'.. and that would likely equate to VIX 16/15s.

*for now, I have no interest in meddling in the VIX.. which looks set to remain low for at least another 5-7 trading days.

--
more later... on the indexes