With equities seeing some very bearish follow through from last Friday's declines, the VIX was naturally continuing to climb (intra high 27.72), settling +11.2% @ 26.00. Near term outlook is borderline, as some equity indexes have already broken below the Jan'20th low - when VIX was in the 32s.
VIX'60min
VIX'daily3
Summary
What to make of today?
Well, VIX is clearly getting stuck again in the 26/27s. Price action in the VIX is still relatively subdued - relative to equity weakness. Today was certainly not a capitulation day in the market.
Hyper upside to VIX 40/50s still looks out of range until at least mid March.
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more later... on the indexes