With US equities closing broadly weak, the VIX managed a third consecutive net daily gain, settling +7.6% @ 18.67. Near term outlook offers early Wednesday equity weakness, which might equate to VIX 19/20s. Sustained action above the key 20 threshold still looks out of range until after next week's FOMC.
VIX'60min
VIX'daily3
Summary
Suffice to add, having cooled from VIX 30 to the 16s, we've now seen 3 days of upside. Still though, equities remain pretty strong, and the VIX is somewhat subdued.
Best guess... equities to break >sp'2009, with VIX 15/14s... at the next FOMC.
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more later.... on the indexes
