VIX higher for a second day

With US equities closing moderately lower, the VIX climbed for a second consecutive day (intra high 14.14), settling +5.0% @ 13.95. Near term outlook offers the sp'2060s, which will likely equate to VIX in the 15.50/16.25 zone. Sustained action above the key 20 threshold looks out of range for another few weeks.


VIX'60min

VIX'daily3

Summary

Despite a second daily gain, the VIX remains broadly subdued, although it does look like we have a short term low of 12.50. The 15/16s look due tomorrow/Monday... ahead of the FOMC.

If sp'2050/40s by end month, VIX 17/18s look probable.

Sustained action above the key 20 threshold looks out of range until latter half of May.

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more later... on the indexes