With US equities breaking new cycle highs, the VIX was under downward pressure across the day, but settled +2.8% @ 14.54 (intra low 13.81). Near term outlook still offers an equity retrace.. at least to the 200dma in the sp'2060s... perhaps 2020s. That should equate to VIX at least trading briefly within the 18/20 zone.
Little to add.
VIX looks set to jump later this week.. first target is the 18/20 zone.
It is possible - depending on style of equity downside, the VIX might break above the 20 threshold. As things are... the very best case is VIX 25... and even if hit, would not be sustained for more than a few hours.
more later... on the indexes