VIX back in melt mode

US equities opened a little higher, and by 10am, the VIX was sporting a classic black-fail hourly candle (intra high 15.98). That was indeed an early warning of broader equity upside, with the VIX settling -2.4% @ 14.68. Near term outlook offers the sp'2085/90 zone, and that likely equates to VIX 13s.


VIX'60min

VIX'daily3

Summary

Suffice to add, those black-fail candles in the opening half hour of the day are always important to recognise.

VIX looks set for another day or two lower, before next opportunity of battling into the 16/17s.

Sustained action above the key 20 threshold looks out of range for another 2-3 weeks.
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more later... on the indexes