The days of the VIX trading in the 12 level may be over as 14, 15, 16 seems more "normal", as VIX and implied volatility is sensitive to mean reversion, according to Swan Wealth Advisors Head of Trading Mark Sebastian. Sebastian says even with Janet Yellen holding her first meeting at the helm of the Fed, fair-at-best economic data and tepid earnings quality, he is surprised that the market is trading as strong as it is. TheStreet's Jill Malandrino has details from Wall Street.

More from Video

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer

Abercrombie & Fitch CEO Reveals to TheStreet How She Is Turning Company Around

Abercrombie & Fitch CEO Reveals to TheStreet How She Is Turning Company Around

The Chart Professor: Worried About United Technologies Right Here

The Chart Professor: Worried About United Technologies Right Here

Veteran Foreign Affairs Expert Ian Bremmer Reveals How to Price Political Risk

Veteran Foreign Affairs Expert Ian Bremmer Reveals How to Price Political Risk

Jim Cramer: I've Liked Six Flags Entertainment Stock as an Income Producer

Jim Cramer: I've Liked Six Flags Entertainment Stock as an Income Producer