There is a "Cup and Handle" Pattern building in the 2 Hour VIX.
A measure used by professional traders especially large institutional big money, to gauge the current level "Fear and Complacency" in the CBOE Index Options Premium Levels.
On 6/25, the VIX broke out strongly to the upside after building a multi-day 2 Hour CUP Base, as the US stock market fell sharply.
Should the VIX rise convincingly above 18, in the days ahead, then the CUP and Handle Pattern will execute,projecting a move up to VIX 24. Such a move would coincide with a S+P drop to 2600-2650
Of note, 6/29 trading is very important, as it marks the end of the month, as well as the end of 2nd Quarter of 2018.