Generally...........VIX is an indicator of volatility......volatility at historically high or low levels is often a pre-curser to a change of trend.  Since 1997 the VIX has moved between the 20 and 40 range with the 20 level suggesting COMPLACENCY in the market and 40 suggesting FEAR. While moves above 40 can be a pre-curser to a market trend  reversal......FEAR / RISK is high while above 40, therefore, BULLS should consider waiting for volatility to subside with a move back below 40 before attempting swing longs as this would suggest that complacency (reduced risk) is returning to the attempted new trend. Current VIX / VXN charts.