It looks like most times my indicator busted its upper bollinger band were during bad times. I'm not sure if this is the same, but this move has been very fast. I was a day early last week when I said we may see a rally. Either way, I didn't trade it so I can't be too proud.
Medium term is still lagging its previous peak. This can accompany new highs in the indexes as we have seen before.
Short term is nearing all time highs as pointed out earlier in my other version of this chart.
I remember reading that rapid changes in the VIX, either up or down, do not bode well for markets, shortly thereafter. Someone did a study on it and the data was decent. I do not have the link otherwise I would share it. If a visitor has it, please provide it in the comment. Yes, I've been bearish for a while. I don't know if I will ever be proven right. My indicators work if you don't listen to my thoughts.