Looking for signs of fear? Finding any?

VIX Volatility Index

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Complacency (in purple) can last for long periods of time.
Fear (in blue) tends to spike and subside.

While the VIX is not at the historic lows seen in 2007, I rather doubt it gets there. If it does, new market highs are likely.

Compare fear (as measured by the VIX) with the chart of the S&P; 500 below.

Buy the dip mentality is entrenched. There is no fear.

Should there be at these prices?

Mike “Mish” Shedlock