VIX higher for a second day

Whilst equities closed broadly weak, the VIX managed to hold most of the morning gains (intra high 18.33), settling +11.1% @ 17.60. Near term outlook offers the sp'2115/20 zone, and that will likely equate to VIX cooling to the 13/12s by next weeks FOMC.


VIX'60min

VIX'daily3

Summary

A rather mixed day in VIX land. Equities saw some rather twitchy action in the early morning, resulting in an opening black-fail candle for the VIX, but by 10am.. it did not hold.

As things are, sustained action in the 20s still looks difficult, even with the Fed set to raise rates next Wednesday.

To be clear, I do NOT expect the VIX to explode into the mid/upper 20s... never mind the 30s before year end.

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more later... on the indexes