There are many misunderstood aspects of Technical Analysis, and the VIX is certainly one of them. Very few analysts and traders that I have encountered understand how the VIX is constructed and what it actually demonstrates.
In my view, while the VIX may be a useful mechanism to trade with, the analysis of this indicator in order to predict future market movements is a useless waste of time. All it shows is a current snapshot of the market. It is essentially like trying to predict who is going to win a race by standing at the finish line and seeing who crosses first. Indicators need to be predictive and this one isn’t.