For longer than most folks reading this have been alive, Warren Buffett has been getting rich by acting greedy while the rest of the market is fearful. According to one popular indicator, it's nearly time to start acting greedy.

A key measure of stock market fear, the CBOE S 500 Volatility Index, or VIX, spiked above 60 points on the morning of Monday, Aug. 5. That's higher than it's been since the COVID-19 pandemic decimated markets in the spring of 2020.

The situation appeared dire on Aug. 5, when the S 500 index fell to 8.5% below the high-water mark it set in July. It takes a drawdown of 10% before we can say we're in a market correction.

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Source Fool.com