The most common measure of market volatility is the CBOE Volatility Index®, otherwise known as the VIX. For August, the average level of the VIX was 12.38, levels not seen since the late spring-early summer of 2014. August also happens to be one of the slowest months for trading volume given that the end of summer is near. Trading for this August was extremely light as volumes were down 22.6% from of the same period last year. Given the lack of news flow, the major focus for investors was Federal Reserve (Fed) Chair Janet Yellen’s upcoming speech at the Fed’s annual symposium in Jackson Hole, Wyoming. Investors were hopeful for guidance about when the next Fed interest rate increase may be.