What is most interesting about the VIX is that when SPX declined substantially from September into the November low, VIX did not spike. Since then the VIX has spiked twice on relatively small dips for SPX in December and also February. VIX was a great indicator in November to correctly signal a rally coming for SPX in months ahead.
Similarly, the recent spikes in VIX signal serious warnings for the future. The conclusion is that the SPX rally is in the very late stages.
VIX is backtesting the white trendlines and therefore may see a small pop this week. VIX could still see lower after a small pop as the SPX rally finishes. However, it is important to emphasize the loud and clear warning signals from the VIX going forward.
The pink fork lines were excellent in defining that last spike for UVXY. UVXY has formed a wedge (white) and may see a small pop this week. After that it may cool off again and see the final low.