With US equity indexes seeing some distinct weakness into the close, the VIX turned positive, settling +5.9% @ 16.26. Near term outlook offers the sp'2025/15 zone, which would likely equate to VIX briefly in the 17/18s... before cooling into opex.
Suffice to add... sustained action above the key 20 threshold looks out of range in the near term.
Indeed, even if the VIX is trading in the 17/18s by early Wednesday, it will likely then melt back to the 15/14s by the Friday close.
Regardless of the near term 'choppy action', VIX 30/40s look highly probable between mid-May and late June.
more later... on the indexes