STORY: The VIX or volatility index which tracks the S&P 500 "has been lower around 17, few months past 15. That's lower than the historical average of around 19. So it feels from an index perspective that there's a lot of calm," says Conzo who points to swings in several areas like software stocks which belie that sense of stability.He says this is why having a diversified portfolio is key at times like this.