Volatility melts lower

With equities battling slowly higher, the VIX naturally melted lower across the day, settling -11.2% @ 15.12. Near term outlook is for a renewed wave lower in equities, although that might not equate to a new high >17.57.


VIX'60min

VIX'daily3

Summary

Suffice to say, VIX is cooling down, but will very likely see another wave higher.

One thing I will be looking for later this week..a new low in equities (<1916).. but with the VIX failing to break above the 17.50s. Such a divergence would be highly indicative that a 5 wave decline in equities is complete.
--

more later... on the indexes