With equities seeing significant weakness, the VIX opened at 29.26, but settling +7.0% @ 28.14. If the sp'500 can hold the marginal double floor of 1812/10, and begin another bounce wave spanning 4-7 trading days, VIX looks set to cool to the low 20s, perhaps 19/18s.. very briefly.
Suffice to add, it is notable that we have a VIX divergence, whilst the sp'500 made a marginal double floor from 1812/10, the VIX put in a moderately lower low of the 30s vs 32s.
It is probably one of the more bullish equity signs right now.
Clearly though, the VIX is set for much higher levels this spring, the 40/50s look a rather easy target.
For the sp'1600s - with VIX 40/50s, equity bears/volatility bulls will likely need a few 'corporate black swans'... aka, something from the oil/gas/mining sector... or even a financial.
more later... on the indexes