Silver Rises Over 120% YTD 
DataTrek Research warns that the VIX “fear gauge” staying elevated could signal an approaching bear market. Co-founder Nicholas Colas is concerned that the VIX’s 30-day average of 21.4 has remained above its historical average of 19.5 for 12 straight days.
While the VIX typically runs above 19.5 during bear markets and below during bull markets, Colas notes that brief spikes to higher levels (27.3 or 35.1) often create buying opportunities that lead to rallies.
Paradoxically, Colas suggests a quick spike to extreme levels might benefit markets more than persistent moderate elevation, as dramatic volatility typically triggers helpful policy responses. The real danger, he warns, is “volatility remaining somewhat elevated for weeks” rather than briefly peaking and then declining.
