For reference purposes, below is a chart of the S&P500 and VIX from year 2003 through Friday’s (January 5, 2018) close. The closing price for the S&P500 was 2743.15 and the VIX had a closing value of 9.22. A dashed blue line depicts the VIX value of 20. Price labels are also shown:
(click on chart to enlarge image)(chart courtesy of StockCharts.com; chart creation and annotation by the author)
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 2743.15 as this post is written