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The Volatility Index (VIX) measures just that: how volatile the market is, more specifically the S&P 500.
In general the value of the VIX correlates to how much market prices are fluctuating over a given time. So a high VIX value indicate prices spiking up and down, whereas, a low VIX value usually symbolizes steady price movement.
In other words, the value of the VIX does not forecast whether it is an up or down market, but rather how much price is moving… the stability of the current market.
Over the past year, the VIX has been on a solid down trend, which makes sense as the market was just going up, but it looks like this trend is changing. VIX just recently crossed the 200-day moving average and looks to be moving higher.
Should this push higher continue we could see this heavy price fluctuation continue for a little longer.