To understand the current market, it is necessary to look at the updated VIX Cycle. Symmetry pointed to a large move in VIX. VIX has reached the First White Arrow target high in the VIX Cycle.
The Cycle shows VIX building support in the 20's and eventually retesting 50. There will be many large spikes as VIX establishes a volatile range during the next two year period.
Volatility is here to stay for several years.
VIX Cycle 1: