As if you didn't already feel it... Per S&P tech analysis. In 2008, 53% of the days have moved at least 1% with many having strong intraday reversals. Average intraday high to low for 2008 is 2.2% Analyst earnings estimates are at a wider level than many years, which should add to, or at least maintain the volatilty this earnings season. I can't remember the rest, but bottom line, the way they measure volatility is at a 70 year high.
In this sweet spot faders have been making better returns than trenders, interesting to follow whether Visa, becomes a vehicle that the trenders can latch onto in this volitale market and go against the grain so to speak and ride the momentum wave.
Longer-term turning points should be more volatile than the middle of a longer-term trend. Another thing different about now compared to the past is that there's much more "hot money' in today's market all trying to do the same thing at the same time.