VIX Looks Like It Is Okay. But Is It Really?

Yesterday, the VIX closed at 15.58, so it looks like it is okay. But is it really?

The verdict is actually not in yet... take a look at October, April and now.April was the lowest reading, with October and now not as low as it was in April. With that condition, there remains a possibility of an inverted Head & Shoulder pattern which would have upside implications for the VIX. 

SInce the VIX moves opposite to the market, that would not be good for the stock market.