I believe traders are buying the stocks and also buying VIX puts for protection. The reverse thing happened a few days ago. Dr. J also said that VIX should have hit 100 a few days ago when market crashed but it only hit 40 which was surprising.
VIX at 39 still indicates a lot of fear. A lot more fear needs to be calmed. Good/great economic numbers is what the market needs right now.
volume was very light today and it was a suckers rally. At the end when a little bit of volume came in, market sold off. VXX is high because the bears never left. No one cares about economic numbers anymore, we know the books are being cooked.
stock av vol today SPY 240 487 ADI 3 9.2 CSCO 78.5 287 INTC 59 75 GS 7.1 11.8 AAPL 17.8 26.5 Just name one stock that its today's volume was not substantially higher than its av volume.
This has been the case for a long time now. A low volume day is almost assured of churning higher as robots scan headlines and lift the bid. Volume returns, and sell off's occur.