Watching the VIX chart carefully, one can identify a lot of W-patterns on the daily chart. Currently, there is a W-pattern in the final stages. Interestingly, a W-pattern is usually a trend continuation pattern during an up-trend. Conclusion: with reference to the ending of the final wave in the S&P 500 this W-pattern of the VIX chart gives us a clue of the timing of a profitable short position - just a private opinion though.