VIX indicates the market crisis is over but a lot of people worry it might get worse

The CBOE Implied Market Volatility Index (VIX) continues to strongly suggest that the recent financial "crisis" really is over, but that quite a few people are still worried that the "crisis" will resume at any moment.

The VIX "fear gauge" popped up to 26.97 on Friday after the weak employment report, but closed the week at 26.23, which is still somewhat elevated but certainly not to "crisis" proportions.

It may take a few more days or a week or two for VIX to retreat safely back under 20. We may have to wait for the Fed to meet on September 18th, and then give the market another week to settle down.

-- Jack Krupansky