VIX set to cool

With equities seeing significant weakness, the VIX opened at 29.26, but settling +7.0% @ 28.14. If the sp'500 can hold the marginal double floor of 1812/10, and begin another bounce wave spanning 4-7 trading days, VIX looks set to cool to the low 20s, perhaps 19/18s.. very briefly.


VIX'60min

VIX'daily3

Summary

Suffice to add, it is notable that we have a VIX divergence, whilst the sp'500 made a marginal double floor from 1812/10, the VIX put in a moderately lower low of the 30s vs 32s.

It is probably one of the more bullish equity signs right now.

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Clearly though, the VIX is set for much higher levels this spring, the 40/50s look a rather easy target.

For the sp'1600s - with VIX 40/50s, equity bears/volatility bulls will likely need a few 'corporate black swans'... aka, something from the oil/gas/mining sector... or even a financial.
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more later... on the indexes