-The current zigzag trend in the VIX ist highly unusual.
-In my opinion it reflects the struggle of markets betwenn asset inflation and interest rate hikes.
-Historically, a VIX over about 30 led to exponential increase of volatility at some point (Margin Calls, Panic,...).
-Also the DXY ist at an historically interesting treshold, which increase concerns about exponential dynamics.
-I think the next 1-3 interest hikes could lead to exponential increase of volatility since the VIX ist getting too far above 30.
So you had better watch the VIX.