It was a rather wild day for the VIX, opening at 18.05, then cooling to the mid 16s, before surging above the key 20 threshold, settling +11.4% @ 19.61. With the break of the sp'2042 low, near term outlook is very uncertain, as there is threat the market will fall another 2-3% before next weeks FOMC.
*I noted the VIX cooling to the mid 16s.. rather than the official intra low of 15.72.. as I consider it a rogue print. There was a secondary odd print at 3.25pm.. to 18.02.
There was always threat the VIX would make a brief foray into the 20s before end year... but I am certainly surprised it happened today.
The door is clearly open to further equity downside before the next FOMC.
If the VIX can break/hold the 20 threshold.. upside would be the 25/30 zone.. as offered on the bigger weekly cycle.
more later... on the indexes