The US employment report on Friday confirmed what the equity indexes have been foretelling for the last month.

With the market up big and coming off of a bit of a selloff, it is not much of surprise that the VIX is breaking 16 again.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

Last year following the old English adage to "Sell in May and go away" resulted in saving a 9.4% decline in the S&P 500 Index.

If you like to follow Adam Warner's tweets (something every real option trader should) you know that very Monday he likes to remind all option traders that just because the VIX is up, does not mean that volatility is up.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

Along with our regular market indicators, we look at the cyclical status of the equity market, admittedly something we should have done sooner since the cyclical rotation looks to be well underway.

Prior to the reverse split I predicted that the stock was going to have a rough go of it over the next few weeks.

Since the end of 2008, despite much talk of a turbulent market the VIX has been heading on an almost perfect down slope

For the second out of three days, we have seen the market take a nice dive, and the VIX act as if it could not care less. What gives?

If volatility is mean reverting, then where should the VIX actually be trading? What is normal, low and high implied volatility?

When I asked on Wednesday if the VIX had topped out, the market responded with a resounding "NO!"