Volatility index indicates potential shift in market's course

The CBOE Volatility Index and the S&P 500 generally move in opposite directions, but both moved lower Tuesday. One analyst said the move indicates a possible shift in the overall course of the stock market. "Typically, if the S&P moves 3%, VIX will move 10% in the opposite direction. And, when the VIX is stubborn and doesn't move as much you'd expect, it is often forecasting a change in direction," said Randy Frederick of Schwab Center for Financial Research. "Given today's movement ... it tells me the profit taking is done, and maybe we're ready to stabilize or go back into an up trend."