Chart 1: VIX Sigma Channels Chart
Worth noting is that VIX hit +3 sigma on Thursday before last in post-Brexit trading, creating the second spike in volatility for CY 2016. While June lows of SPX are expected to be tested, the timing ideally should be a bit further out in late July, with spot VIX targeting 24 to 27 range, as this retest in volatility comes in about 4-5 weeks apart.
Chart2: VIX Futures 3-mo. Spread Indicator
This 3-mo spread is favorite of[...]