As widely expected, the New Year has begun with plenty of volatility on high trading volume, as investors fear more than just a mild correction to start out the year. Despite the strong fundamentals here in the U.S., there are plenty of dangers around the rest of the world, and many fear that our cozy comfort at home simply cannot remain insulated for much longer.

Stocks are inching ever forward, but investors are showing plenty of indecisiveness along the way. They might be suffering from acrophobia—fear of heights. Their trepidation is reflected not only in the ongoing price consolidation as the major market averages struggle at long-term highs, but also in the extremely low trading volume.