VIX'60min
VIX, daily, bullish outlook
VIX, weekly
Summary
Primary target for the VIX is 20, but if the market can rally into the middle of next week - sp'1350/60, then my best guess is VIX will briefly fall to at least 19/18..maybe even a brief spike into the 17/16s.
From a count perspective, this large move up would be wave'1..and now we're due a brief pullback..before the VIX explodes higher - in the same style as we've a number of times over the last few years.
In the bigger picture, I am looking for VIX 30s/40s by the end of June/early July. There are just so many issues out there right now, and things are very much building to a very volatile conclusion in Europe this summer.
More later..looking at those daily index cycles.