It seems VIX runs between 13 and 17.  The sell zone would be below 13 and the buy zone above 17.  The next major rebound will occur after VIX goes above 17 most likely after it falls below 13.

The best rebounds occur after a major ‘storm’ event VIX 17+.  Note the last 3 have different reasons.  The reason really doesn’t matter other than they occur after Fed meetings.

Jun 26 2013:     Taper policy announcement….buy point 7days after FM (FM Jun 19)

Oct 8 2013:      Debt debate/gov’t shutdown…buy at Fed minutes (close) (FM Sep 18)

Feb 6 2014:      Bad economy from winter weather…buy 3 days after PMI (FM Jan 29)

Minor rebounds occur more often again with different reasons:

Sep 6: Taper worries over summer

Dec 18: Fed meeting / taper worries

Mar and Apr: taper worries (FM Mar 18) and Russian crisis (mid-Apr)

These are closeups of the rebounds…