VIX unable to hold gains

With US equities seeing a day of rather significant swings, the VIX opened lower to 17.06, but then rebounded to an intra high of 19.59, but settling -1.6% @ 18.05. Near term outlook threatens another brief equity wave lower, but then resuming higher into next week's FOMC.


VIX'60min

VIX'daily3

Summary

Aside from the very significant reversal in the USD today, the second most notable aspect was the VIX.

Despite what was a very powerful reversal from sp'2005 to 1969, the VIX never showed any sig' upside power, and the fact it closed moderately negative is testament to the fact the equity bulls are still in control.

For the moment, sustained action above the key 20 threshold looks unlikely this side of the FOMC.

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more later.... on the indexes