Great news: VIX closes at 19.54 which means volatility recedes

While S&P 500 closed higher on Monday, marking the fifth day of gains in a row, there is another good news for market players.

The CBOE Volatility Index known as the VIX, closed at 19.54 yesterday. That doesn’t mean the market is about to jump, but it possibly signals that the elevated volatility is behind us, writes Crossing Wall Street’s Eddy Elfenbein.

A VIX below 20 usually means the market is less jittery, and it hasn’t closed under that level since August 20, when it closed at 19.1.