Volatility reverts to the mean…with a vengeance…
http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 As we frequently note volatility is mean reverting. Friday it reverted in a major way. http://stockcharts.com/h-sc/ui?s=%24VIX&p=D&yr=0&mn=6&dy=0&id=p34770779486 There has been extraordinary anxiety in the marketplace. This derives in part…