A lot of people talk about the Volatility index, the VIX. But what are we supposed do do with that information?
From my best understanding, you divide the Vix by 16, and that tells you the implied move on the SPY.
It doesn't tell you up, or down, it just tells you the implied move on the SPY.
There are a lot of fractions off that knowledge, but it can be one valuable piece of the puzzle.