VIX is likely approaching the red arrow low in the Cycle. The red arrow low should form late this month possibly in the 13's.
VIX bottomed mid-March and has been making higher lows since that time. In the Cycle, the red arrow low is anticipated to be another higher low for VIX.
VIX has been flirting with longer term trend lines of resistance going back to 2008.
VIX Cycle 1: