Here's how I'm interpreting this chart now: The markets are getting stretched, The on $SPX has been above 70 various times over the past 10 or so sessions which indicates an overbought market. And we're seeing weakness in the Summation Index. Nothing major but still weakness in the Summation Index is never a good thing.
For the moment, and based on the way the market has been acting lately, I would have to expect that the $SPX will push higher and this, in turn, will push the $VIX 5EMA lower and perhaps through the the bottom yellow line. If that bottom yellow line does in fact get pierced, then I'd be on the lookout for some kind of give back to start within a few sessions.
And I could be completely and absolutely wrong.
Be careful and GL.