Time goes on, but risk levels remain high ... here is why ...

Take a look at this 10 year chart of the VIX that we posted below and observe two things.

First, look at the fan lines which keep moving higher. (The VIX moves opposite to the stock market.)

Second, note the thick black support line at the bottom of the chart that starts in 2014.

What is there to observe?

That even though the VIX has been moving lower, it has not tested or hit this support line. It is close and about to, and that will be the big test ... so be careful.