SPX is testing resistance, and a surprise plunge is likely setting up for one day next week. The SPX Cycle looks particularly weak in late February, and a lower low is probable.
VIX did, in fact, find resistance in the low 30's, and is now at historically significant support. The VIX Cycle shows a spike up to complete the brown arrow Cycle high in late February.
Prepare for a wild ride!
January 17th, 2016:
"The action in VIX recently has been relatively quiet though, and VIX tested 30
last week which historically has been a significant resistance. Short term
support is around 20.
There is no panic currently."
VIX Cycle 1: