The Cboe Volatility Index (VIX), a key measure of market volatility, has been fluctuating around the critical 20 level in recent trading sessions. On March 18, the VIX reached 20.88, but by March 19, it was reported to be hovering between 20 and 21, indicating a slight decrease of 5% as markets paused ahead of the Federal Reserve's (Fed) meeting. The 10-Year Treasury yield was noted at 4.30% on March 18 and slightly decreased to 4.28% by March 19. Market analysts are closely watching the VIX as it approaches significant resistance and support levels, with 22 being a notable resistance and 20 a key support level. The VIX experienced a sudden flush down to 21.30/21 levels, and later it was reported to be spiking again, indicating volatility. The movement below 20 has been seen as a sign of reduced market fear, particularly as the market approaches the end of the month. The upcoming Federal Open Market Committee (FOMC) meeting is anticipated to influence market volatility further, with investors focusing on the Fed's tone rather than expecting a rate move. VIX futures initially sank by 3%, highlighting the market's anticipation of the Fed's press conference. The VIX's behavior around the 20 level, and comments from Jerome Burns, are seen as pivotal indicators of investor sentiment going into this event.