The current VIX chart is posted

The current VIX chart is posted below.

Take a look at the VIX since the beginning of July.   What you should notice is that the VIX had a low on July 20  and then its lowest low on August 9th., and then a low on August 19th.

What is a possible description for that action?   Well, the VIX could be forming an inverted Head & Shoulder pattern which would have upside implications if the pattern completes.   And since the VIX moves opposite to the stock market, Caution would be in order during the coming days.