The Volatility Index is the ‘Chart of the Day’

NEW YORK (TheStreet) -- TheStreet's Bryan Ashenberg and Bob Lang of Trifecta Stocks have identified the Volatility Index (VIX.X) as the "Chart of the Day." Here is what Ashenberg and Lang had to say about it:

Remember back in 2011, when Greece was really in trouble? Well, actually the Eurozone was in dire straits, as it appeared a Greek debt default was pointing toward the end of the euro currency. Many were predicting it, and markets were volatile, yet, we all survived. As is usual, the calls for the "end of the world" came up short.

Market volatility is a great tell on expectations by market players. Given the current conditions we can see from the chart the market is complacent. With some news coming from Greece soon, does it make sense? We are not about explaining or rationalizing but just interpreting the data.

We can see the Market Volatility Index, the VIX, in a sideways range, with all of the indicators just marking time in the mid-range area. We have no clue here as to where the market is going to go, which is indicative of other sentiment gauges, too.

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