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Market sentiment seems to turn at warp speed these days. Hopes can be dashed as quickly as they come, with the market responding to the ultra-short news cycle. The result is an ever-present sense of uneasiness in the market. Oddly, Wall Street's "fear gauge" remains low. The Chicago Board Options Exchange Volatility Index, commonly referred to as the VIX, reflects the market's estimate of future volatility. Currently, the low levels of the VIX Index create a disconnect between volatility expectations and the market reality, leaving investors scratching their heads and closely monitoring their portfolios.