Investors remain on edge even after big January comeback — and that might be a good thing

The fragile psychology and tentative stance of market participants right now will probably serve the market well for a while, according to strategists. Traders are wary, shown in part by the stickiness of the Cboe Volatility Index hanging up near the somewhat elevated 20 threshold in recent weeks despite the rally. The public has continued to pull money from stock mutual and exchange-traded funds, on a net basis, even with the market finding its footing in the past month.