Stocks are doing something rare on Thursday: Nothing.
With three hours left in the trading day, the S&P 500 is up a mere 0.1 percent. If the magnitude of the market's move does not rise, Thursday will be the S&P's third least-move-y day this year.
The beginning of 2016 has proven an emotional roller coaster for investors, albeit not a particularly fun one. The average move (whether to the upside or downside) for a session in 2016 is 1.18 percent. That compares to an average 0.94 percent move in the comparable time period in 2015, and 0.72 percent over the full year.
The relative quietude may be a good sign for stocks. One of the things the market will need in order to bottom is a decline in volatility, investment strategist Neil Azous of Rareview Macro said this week on CNBC's "Power Lunch."
Then again, it may be a bit premature to declare the gut-wrenching moves over and done with.