VIX index still poised for oversized move higher this summer.

Despite briefly dipping below 12, based on this chart interpretation the VIX is still poised for a rather large spike this summer. First trigger would be a move over ~14 then a push through major resistance ~19.50 - 20 would probably see a rapid ramp towards the low 30's.

This would roughly correlate to a 20-30% correction in the SPX.

Watch to see if the VIX can break and close above the 50 sma (currently 14.08) and then the 250 sma (currently 19.35) for confirmation.