VIX battles to the high teens

With equities continuing to unravel for a second consecutive day, the VIX battled higher (intra high 19.35), settling +13.8% @ 18.11. Near term outlook is borderline, and will be largely dependent on how the market interprets the Friday jobs data. Clearly, a brief foray into the 20s is now viable.


VIX'60min

VIX'daily3

Summary

Suffice to say.. the second consecutive net daily gain in the VIX.

The last two hourly candles of the day were highly suggestive of a short term top.

Best guess... equities to resume higher.. with a weekly close in the sp'2070s, and that will likely equate to VIX in the 16/15s.

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more later... on the indexes