VIX At 15.97, Heading Toward 5 Year Low?

Vix, (VXX) the CBOE’s volatility index has been dropping massively in the past week demonstrating the comfortable feeling among investors about the future of the market.The five year low was set in June 2007 when the volatility index stood at 14.62. The fact that the market is heading for such a low volatility number suggests a belief among investors in the economy’s recovery. Such a low may seem too early at this point. The Fed’s announcement and statement on the outlook of the economy, released earlier today, seems a much more measured approach. However after that announcement stocks climbed even higher….