After a recent technology and small cap sell off, look for earnings season to usher in a return to volatility in the stock market, reported Bloomberg. ?

Matt McCormick, a fund manager who helps oversee $11 billion at Bahl & Gaynor Inc., said to Bloomberg, “You?re getting investors who were once euphoric preparing for more volatility on the basis that the economy and market may not be as strong as they believed. It?s natural that people would want to be more cautious in an environment where there are more questions than answers.?

The VIX is also following this assertion as the first two days of this week, it rose 16 percent–last seen in April–while the Nasdaq Composite Index and?Russell 2000 Index (RTY)?dropped at least 2 percent.

On Wednesday, the VIX didn’t make it to a third straight day as it closed at 11.65, down 2.75%.

Frederic Dickson of D.A. Davidson & Co., said to Bloomberg that the VIX?s rise shouldn’t cause any worries as it’s off?14 percent from its 13.9 one-year average. For 49 days, it has closed under that number, according to Bloomberg data.?

Dickson said on Tuesday, ?Going from 11 to 12, the market at this point is just writing it off as a technical correction. If the VIX goes up to 20, that would have caught my attention.?

Meanwhile, the?Standard & Poor?s 500 Index (SPX)?has now gone for 57 days without a 1 percent fall. It closed at 16,986, up 9 (0.47%) on Wednesday.?But will bigger swings ensue in earnings season?

The rise also came as?FOMC minutes disclosed that the Fed?s bond buying could end by October should the economy remain on track.

On Thursday, earnings will include?Family Dollar, Progressive, Barracuda Networks, Chevron (preliminary) and PriceSmart.