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....