S&P chart against VIX on the monthly time frame.
Comparing the longer term trends, when the VIX cycles up and down we get rally's and corrections, but if theres a sustained VIX trend change, it could indicate overall market direction change.
IMPORTANT
-Normally indicated by higher highs/lows and lower highs/lows on VIX channel.
None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!