While US stocks continue to test all-time highs day-day activity remains extremely muted with the combination of US holiday season and Janet Yellen's weekend speech enough to continue the current run of low lacklustre moves – last night saw the 32nd straight session where US markets moved less than 1%. Many commentators believe this is the calm before the storm but we think the likelihood is that the calm may extend far longer than many think. Historically the Volatility / Fear Index (VIX) Index usually spends a lot longer at depressed levels than a few weeks as we’re currently seeing. However, it’s during these relatively quiet times that it's important to remain focused and ready to act to achieve the best portfolio returns. Today we are going to look at 3 things we continue to watch closely.