The level of VIX is very low. MArkets appear very confident and we can say over confident. However, as I have mentioned few days ago comparing VIX with DOWI , the are initial sign of a reversal trend. It is ofcourse too early, but one should keep in mind that STOCH , MACD as well as the move of the candles suggest that we may well be at the initial pahse of a bull on VIX which would mean that DOWI NASDAQ and SP500 may go down.. at least a little bit....