Here are my last 2 posts on the VIX: VIX Update and VIX Thoughts to Accompany a Few Count Options
Something didn't look right on my last chart, so I went into the 5 minute chart. And I can count a complete 5 wave move down.
This means the VIX may have bottomed. I think it is very likely. But we need to see a strong impulsive move up from here to help confirm. Also to be aware that corrections can start with impulses. But a very would sign would be a move back above 23, a retest of the the long term (16 year) S/R line and then a continuation up.