Neutral
17.10
The VIX is Wall Street's fear gauge — it quantifies how much volatility options markets expect over the next 30 days. Low readings (below 15) typically mean investors are complacent, which has historically coincided with rich equity valuations and narrow credit spreads — often right before unpleasant surprises. High readings (above 30) mean panic, which has historically marked good entry points for long-term investors. It's most useful as a gut-check: is the market currently pricing fear or greed, and does that match the macro reality?