This time couple of strange things are happening as well:
1. US Market just pulled back 2% and VIX fired up 80%!
2. VIX is at ~$21 and S&P500 at ~$2080 ( VIX is too hot)!
3. is not too high!
4. US has decoupled from rest of the world while they are down 20% From All time High, US is down just 3%!
*** Conclusion, I believe the big boys know more (actually earlier) if something really bad may happen. It would be wise to protect your portfolio or sit on the sideline.****
BTW , I am wondering how high VIX would go if S&P500 breaks that $2040 level to the downside!