Bulls trample VIX and VIX ETFs on Tuesday, sending VIX to five year lows. The bull run in stocks and ETFs continued on Tuesday and VIX, the CBOE S&P 500 Volatility Index, also known as the “fear index,” took another hit along with related VIX ETFs. The index has fallen to lows not seen since the spring of 2007 before the onset of the financial crisis, falling today to 12.43, a decline of .24%, which now leaves the index down 31% below its recent closing high of 18.02 set on New Year’s Eve. As VIX has declined, the S&P 500 (NYSEARCA:SPY) has climbed 4.6% over the same period.The recent rally in the Dow Jones Industrial Average (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) has been largely fueled by anticipated postponement of the debt ceiling debate until May and positive earnings reports today from heavyweights Google (Nasdaq:GOOG) and International Business Machines. (NYSE:IBM) Read “Bull Run Takes Stocks and ETFs Higher On Tuesday” Many analysts are now forecasting the S&P 500 (NYSEARCA:SPY) to break through its all time highs and this would further pressure the VIX index as it tends to move inversely to equity prices. Read “The Inverted Percentile VIX” Of course, some analysts say that the index is now oversold and that it could quickly rebound as the index oftentimes tends to reverse course and return to mean with a concurrent decline in equity prices.  Looking ahead to second quarter, the unavoidable debt ceiling debate and recession spreading through Europe and Japan could dampen investors’ spirits. VIX ETF Update: iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX): -2.84%, This ETN is designed to track volatility in the markets as measured by the Chicago Board Options Exchange Market Volatility Index (CBOE Index), a popular measure of the implied volatility of S&P 500 index options. VelocityShares Daily 2X VIX Short-Term ETN (NYSEARCA:TVIX): -4.92%, This ETN is designed to track 2X return on volatility in the markets as measured by the S&P 500 VIX Short-Term Futures Index. iPath S&P 500 VIX Mid-Term Futures ETN (NYSEARCA:VXZ): -3.37%, This ETN is designed to track volatility in the markets as measured by the CBOE Volatility Index futures contracts. S&P 500 Dynamic VIX ETF (NYSEARCA:XVZ): -1.1%, This ETN is designed to track volatility in the markets as measured by the S&P 500 Dynamic VIX Futures Total Return Index. Velocity Shares Daily Inverse VIX Short-Term ETN (NYSEARCA:XIV): +2.89%, This ETN is designed to inversely track the volatility in the markets as measured by the S&P 500 VIX Short-Term Futures Index. Bottom line:  VIX and VIX ETNs continue to be mauled by the bulls, however, the VIX has a tendency to revert to mean and so, at some point, we can expect a reversal of the index’s current misfortune.    Get Wall Street Sector Selector’s Free Stock Market Timing Indicator!     Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer , Terms of Service , and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.