The VIX shows clearly defined structures during specific episodes of the market since early 2020. The enormous VIX spike that accompanied the covid crash was followed by a high VIX regime that nevertheless showed a continuous down trend of lower highs. During the 2022/early '23 bear market VIX was perpetually trading above 20 until the structure droppped below that in April with notable peaks in August and October. No certainties but if the current spike ends up being a short term peak as it did in October of last year the low VIX structure is in tact and may well see the market pick up where it left off.