Volatility primed to soar

After holding the high teens for the past three trading days - with a brief break into the 21s, the VIX looks poised for its next surge, closing +4.4% @ 19.95. If sp'1710/1690, VIX should at least be 22/23 - surpassing the 2013 high of 21.91, if not even higher..in the 25/27 zone.


vix'60min

vix'daily3

Summary

Suffice to say, the price structure looks VERY bullish on the hourly charts. With daily/weekly charts also bullish, VIX looks set to take out the 2013 high of 21.91 in the next few days.

The big unknown is how high the VIX might spike if sp'1710/1690. Best guess remains 22/23, but..if the market is really in a bad mood, then 25/27 is briefly possible.

more later..on the indexes