As a result, the VIX is now being squeezed into technical support in the 17-17.50 area, a region that has provided a floor for the index since late January.

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The index remains trapped beneath its 50-day moving average and the 16 level, which provided a floor for the VIX in February.

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With April expiration now behind us, the CBOE Market Volatility Index (VIX) enters the week trading in the 15 area again, which has been a floor since December.

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