CBOE's volatility index signals bullish change

NEW YORK (MarketWatch)
The Chicago Board Options Exchange Market Volatility Index VIX -1.40% on Thursday fell under 30 for a second day, signaling the "level of anxiety has come down," said Randy Frederick, managing director of trading at Charles Schwab.
"There has been this fundamental change," said Frederick.
The volatility index confirmed "that we would get some sort of process in place that would eliminate," at least for the remainder of the year, the underlying worry over Europe's sovereign debt crisis, he said. "Our economy is much stronger than our markets have been saying," but Europe has curbed Wall Street's rise, in Frederick's view.
On Thursday, the VIX traveled in the same direction as the S&P 500 Index , an unusual although not unprecented scenario, falling 1.1% to 27.50.
The S&P 500 fell 0.2% to 1,244.59.