CboeVolatilityIndex

The CBOE's Volatility Index, known as the VIX, has been trending lower, which many analysts consider a sign that stocks are due for a fall. But another argument says it's all relative, and in today's environment a lower VIX may suggest a continuing rally.

Earlier this year, Comedy Central's Stephen Colbert interviewed Jim Cramer about market psychology against a video background of puppies and kittens. Did it help the market rebound from its March lows? Who knows? But investors are sure feeling better about themselves. The Chicago Board Options...