FWIW, courtesy WSJ. Jason vs Hussman's Aunt Minnies..

The VIX is up again today, rising 2.6% to 19.29, and is up more than 20% since the end of March. It has never had an eight-day consecutive streak of gains.

While stocks have stumbled, traders have been pricing in a higher likelihood of more volatility, Goepfert says.

But the market’s returns following previous streaks may surprise a few folks. There have been nine instances since 1990 in which the VIX rose for seven straight session. Almost all of them occurred when volatility was climbing from multi-month lows.

“Historically that’s been a good sign for stocks, and a bad one for volatility… Far from signaling a return to high-volatility conditions, by two weeks later the VIX was lower every time…Because there is such a strong inverse relationship between volatility and stock prices, the declining volatility over the next two weeks usually resulted in rising stock prices. The S&P 500 was higher two weeks later eight of the nine times, and performed well beyond random returns across all time frames up to three months later.”