So as 2017 gets off to a raucous start let us compare and contrast with the start of 2017. VIX was around 19.50 at the beginning of 2016 and quickly moved to the 30s as traders let the potential calamity of rising interest rates and possible Chinese meltdown rule the day. We got the rate rise but China is still chugging albeit at exactly the same spot it was last year. The only thing really different is that there is a new man in the White House come Jan 20th. VIX is 11.85 going into the transition.