Volatility Index Falls To A Level Suggesting “Market Correction Is Complete, Back To Business As Usual”

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Volatility Index Falls To A Level Suggesting “Market Correction Is Complete, Back To Business As Usual”

By Mark Perry on May 19, 2009 | More Posts By Mark Perry | Author's Website

The CBOE Volatility Index (^VIX) closed Monday at just barely above 30 (30.24), falling almost 3 points from Friday’s close of 33.12, and is now more than 50 points below the November highs that were above 80.

According to Yale Professor Ian Ayres at the Freakonomics Blog on December 24, 2008: “When it (the VIX) drops below 30%, it will be a strong indication that the market correction is complete and we’re back to business as usual.”

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