SPX is trading in an expanding formation as predicted by the Deja Vu Cycle. In the Cycle, it does overshoot the red line to reach point A. Horizontal support held in April, and the Cycle accounts for that horizontal.
This is the 10th week that VIX has been trending up, and that is a serious warning. The behaviour of VIX is also evidence in support of the large Cycle continuing. However, for VIX to hit an extreme level of complacency it may still reach closer to the mid-March bottom.
The Deja Vu Cycle expanding formation is shown with the red lines. Notice that there is an overshoot at point A.
Deja Vu Cycle on a larger scale: