VIX is pointing towards a change in the market. As shown on the chart, a significant downtrend in RSI since November has been broken. Also, a price channel VIX has been in has also been broken.

Here is a chart of the weekly SP500. Since Oct. 2007 the market has sold off when the SP500 hit the upper Bollinger Band line marked in green on the chart. Right now it is at 969. After a 40% pop off the bottom without any meaningful correction, how well will the SP500 fair on this test of the line?