VIX breaks another new low

With US equity indexes closing moderately higher, the VIX was still broadly subdued, having made a new cycle low of 13.06, but settling -1.9% @ 13.56. Near term outlook offers some equity weakness, with a push higher in the VIX to the 18/19s. Sustained action >20 looks difficult for another few weeks.


VIX'60min

VIX'daily3

Summary

*I adjusted the descending trendline on the daily chart.. as we broke a new cycle low today.

As of the April 1st' open, VIX bulls need to see 15s to offer any opportunity of the upper teens next week.
--

Suffice to add.. it was pretty incredible to see the VIX almost break into the 12s this morning.

Yet.. we did see a turn around 11am. The 14/15s look viable tomorrow/Friday.

--
more later.... on the indexes