If you go back 10+ years (pre-1998) VIX data, there are periods of VIX sitting at around 16.
VIX is useful on a relative formation basis, it is less of a fixed overbought/oversold tool.
Just like after the first break down during 2000, nobody believes the VIX will make so many "new highs" since
VIX is useful on a relative formation basis, it is less of a fixed overbought/oversold tool.
Just like after the first break down during 2000, nobody believes the VIX will make so many "new highs" since