BigTrends

The fear gauge, or the VIX is showing high complacency and general malaise about bad news.  That's dangerous, but for now the market is sanguine.  As you can see from the chart the indicator is sitting right where it was when the last big rise occurred.  Remember that one?  The SPX dropped 60 points in about three days.  Jobs data is out the remainder of the week, and perhaps the bulls have exhausted themselves for the time being.