VIX breaks into the 11s

With equities building gains in the early morning, the VIX snapped lower (intraday low 11.80), but settling -8.1% @ 11.91. Near term outlook is for the VIX to remain within the 14/11 zone into early June. VIX 20s look unlikely for at least another 3-4 weeks.


VIX'daily3

Summary

It remains bizarre how the VIX spike highs continue to get lower and lower.

At this rate, in 2015, the cycle highs will be in the 10s..or 9s.
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Seriously though, VIX remains very low, but I don't expect it to last much beyond early June. VIX has a high probability of the 19/21 zone by late June...whether the VIX can break..AND hold the 20s..that is the real issue.

If the main market does see a multi-month down wave this summer - with sp'1625/1575 (best bear case), then I'd expect VIX to at least briefly break into the 30s.

Right now, I will be looking to pick up a VIX call block, in early June.
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more later...on the indexes