The VIX Has Found Its Range

The US markets slipped lower today. The VIX rose again today, reaching nearly 4% higher after briefly falling below 14.00 a few days ago. Clearly we are well below the levels we persistently saw in February and March for the VIX, but we are also well above the consistently low levels we saw over most of 2017. It appears that we are settling into a more normal range of volatility levels for the markets as a whole, with most trading sessions over the last two months clocking in over 1% movements up or down, with the downside movements tending to be of greater magnitude, as it typical for equity indexes. Here’s what to expect.