U.S. VIX equity volatility surged over 30% to briefly clear 15.00
U.S. VIX equity volatility surged over 30% to briefly clear 15.00 en route to 15.36 3-month highs after taking out 15.16 from June 29th, having cleared the 11.98 200-day moving average earlier this week. That puts the double top near 16.30 from April/May within reach, ironically after recent rounds of trader layoffs in the financial sector due to persistently low volatility. A breakout higher amid record speculative VIX short interest could put 23.01 November 2016 and 26.72 from July 2016 in scope. Pullbacks will eye 11.98 and 11.56 session lows for support, along with all-time lows of 8.84 from July 26. The S&P 500 meanwhile is fast approaching its 2,448.3 50-day moving average support line, which has provided investors a buying opportunity for the past several months. It appears that investors may forgive legislative impasse, but are less generous about warmongering. NASDAQ is off 1.2% and the Euro Stoxx 50 is 1.2% lower.